PETALING JAYA: Malaysia’s total industry volume (TIV) recorded an all-time high of 655,793 units in 2013, up 4.5 per cent against 627,753 units in 2012, the Malaysian Automotive Association (MAA) announced today.
This record figure outperformed MAA’s forecast of 640,000 units.
Its president Datuk Aishah Ahmad said this was the fourth consecutive year that the local automotive industry surpassed the 600,000 mark since 2010 of 605,156 units.
“The all-time-high performance last year was due to aggressive sales campaigns by car companies as well as innovative and attractive offers and schemes for new car buyers.
“Consumers’ sentiment in 2013 was also positive due to the stable employment market coupled with normalisation of vehicle sales starting in the third quarter, resulting in the TIV in that quarter to increase by 12 per cent as compared to the previous quarter,” she told a media briefing here.
Aishah however forecast a slower TIV growth of 2.0 per cent for this year to 670,000 units on expectations of rising cost of living, which would result in consumers downsizing their assets.
“One thing that we are very sure of is that consumers right now are tightening their belts…Everything has gone up in terms of price and people can’t afford to buy.
“The high-end, I think can still afford (to buy) but not the middle-end consumers because of affordability and also the lower-income group are finding it harder and harder to get loans,” she added.
Meanwhile, the production of new vehicles in 2013 recorded an increase of 31,787 units or 5.6 per cent to 601,407 units compared to 569,620 units in 2012, the first time that the industry exceeded the 600,000 mark.
On the 2013 industry performance, Aishah said the total registration of new passenger vehicles rose 4.4 per cent or 24,468 units to 576,657 units as compared to 552,189 units registered in 2012. — Bernama