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Vehicle sales plunge 20 percent in January

POSTED BY Vishal Bhaskaran ON 23 February 2016

VEHICLE sales plunged 20.5 percent in January this year, equaling 11,501 units lower than that recorded for the month of December 2015, according to the Malaysian Automotive Association (MAA).

Based on the latest production and sales report by MAA, vehicle sales figures for January 2016 stood at 44,591 units (passenger and commercial vehicles combined).

In comparison with the corresponding period in the preceding year, this was a 11.9 percent drop from the 50,602 units sold.

Vehicle sales are expected to deteriorate again in February this year due to the short working month, MAA reported.

“Heavy discounting, competitive offers and promotions as well as the continuation of more stringent hire purchase loan approvals resulted in many sales concluded in December 2015.”