NEW car sales in November grew nine per cent to
40,865 units from 37,512 units in October, helped by a longer working
month and year-end promotions.
The Malaysian Automotive Association (MAA), in
its monthly sales and production data released yesterday, said
of the month's total sales, passenger cars accounted for 36,254
units while the remaining 4,611 units were commercial vehicles.
However, the association expects to see a drop
in sales for December as buyers will normally wait until the new
year before purchasing a car.
"December is usually the slowest based on
our year-end seasonal index as buyers rather wait to avoid depreciation
in year of manufacturing," said MAA president Datuk Aishah
Ahmad when contacted by Business Times.
Buyers would rather wait for the new year because a more recent
buy would fetch better trade-in value in the used car market.
Besides the expected sales drop in December, industry
players are also cautious on the outlook for next year.
Aishah said the decline in new car sales was expected
to continue in 2009 due to higher interest rates, tightening of
hire-purchase loans and the impact of the global economic downturn.
Reviewing the industry sales and production so
far, the MAA said total sales for the 11 months stood at 508,290
units from 444,932 previously. Passenger cars made up 462,065 units.
Total January-November production this year was
498,419 units from 373,233 units in the same period last year.
- By Azlan Abu Bakar