KUALA LUMPUR (March 17): Malaysia's vehicle sales fell 24.8% to 37,876 units in February 2016, from 50,390 units in the same month last year, the Malaysian Automotive Association (MAA) data showed, due to slower consumer spending.
On a sequential basis, total industry volume (TIV) in February was 15.1% lower, as compared to 44,591 units in January.
Passenger car sales dropped 24.1% to 34,126 units in February, from 44,961 units in the same month last year; while commercial vehicle sales retreated 31% to 3,750 units, from 5,429 units in February 2015.
In a statement today, MAA said the lower sales in February was due to consumers being more cautious in spending on big ticket items, in view of the economic slowdown and rising costs of living.
MAA said total vehicles produced in February was 25.2% lower at 35,130 units, from 46,958 units in the same month last year.
Passenger vehicle production in February declined 24% to 33,480 units, compared with 44,023 units in February 2015; while commercial vehicle production fell 43.8% to 1,650 units, from 2,935 units the same month in 2015.
Year to date, the TIV slid 18.3% to 82,467 units, from 100,992 units in the same period last year.
For passenger cars, MAA said the sales in the first two months of 2016 dropped 17.3% to 74,126 units, from 89,658 units a year ago; while commercial vehicle sales slipped 26.4% to 8,341 units, from 11,334 units.
Year-to-date production came in 21.1% lower at 81,781 units, compared to 103,612 units a year earlier.
For passenger cars, MAA said production was down 21% to 76,178 units, from 96,410 units a year ago; while commercial vehicle production fell 22.2% to 5,603 units, from 7,202 units.
On the outlook for March 2016, MAA expects sales volume to be higher than February 2016 level.
"This was due to longer working month and continuation of promotional campaigns by car companies," it added.