PETALING JAYA: The Malaysian Automotive Association (MAA) is maintaining its total industry volume forecast of 600,000 units for 2019, as consumers and businesses are expected to remain cautious in light of the current economic environment.
MAA president Datuk Aishah Ahmad said stringent hire purchase lending rules are expected to continue for the remainder of the year.
“Many people expect the economic uncertainties to extend into the second half of 2019,” she said at the association’s bi-yearly briefing today.
However, Aishah said the introduction of new models with latest additional specifications, designs and at very competitive prices can assist to sustain buying interest.
Total vehicle sales increased 2.3% to 296,334 units in the first six months of 2019, compared with 289,599 units in the previous corresponding period.
Except for February and June 2019, the year-on-year vehicle sales trend was consistently higher for the first half of 2019 compared with the same period in 2018.
On a monthly basis, the sales volume for May 2019 was the highest, due to strong demand for vehicles arising from attractive pre-Hari Raya promotions and offers by MAA members.