June 2019 Malaysia vehicle sales down 30% from May, 34% lower year-on-year; YTD TIV up 2.3% from 201807/18/2019
It looks like the automotive industry in Malaysia has hit a slump, hungover from the car buying frenzy brought on by the Raya promos – after a strong showing in May, sales slowed significantly last month.
Data from the Malaysian Automotive Association (MAA) showed a total of just 42,526 vehicles that found homes in June 2019, representing a 30% decrease compared to the 60,780 sold in the previous month – a difference of 18,254 vehicles.
That figure is even bleaker when you compare it to the same period last year, in which 64,465 vehicles were sold – that’s a 34% drop, or 21,939 units. Much of that can be explained by the effective abolishment of the goods and services tax (GST) in 2018, but MAA also gave the Hari Raya Aidilfitri holidays and a shorter working month as reasons for the sales dip.
Just as Perodua was yesterday, the association had a cautiously optimistic outlook for this month’s sales, predicting a slightly higher figure compared to June. It cautioned, however, that it will be lower than the numbers from 2018, as an obvious result of the aforementioned “tax holiday”.
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