Malaysia sales flat in October

The Malaysian new vehicle stabilised in October, with sales rising 0.5% to 47,273 units from 47,041 a year ago, according to the Malaysian Automotive Association (MAA).

That followed a 24% year-on-year drop in September after the government reintroduced the 10% Sales and Services Tax (SST) at the beginning of that month after a three month tax holiday.

Compared with 31,241 vehicles sold in September, sales jumped 51% last month.

Passenger vehicle sales were 1.7% higher year on year at 42,364 in September while commercial vehicle sales were still lower – by 8.6% at 4,909.

The MAA said it expected sales in November to be slightly higher than October, helped by new model launches and aggressive year end promotional campaigns.

Year to date, total vehicle sales were 6% higher at 502,244 compared with 473,719 in the same period of 2017.

Vehicle production was up by 12% to 472,267 units YTD compared with 421,635.

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