Malaysia’s Sales Slump Slows Slightly in September

Malaysia’s auto-industry slump continued in September with year-on-year sales falling 5.7% to 48,191 units, leaving the year-to-date total down 13.8% at 418,433.

Malaysian Automotive Assn. data shows new-car sales fell 5.7% to 42,644 units for the month, while commercial-vehicle deliveries were off 5.4% at 5,547.

The MAA blames the continuing sales drop on stringent lending procedures, cautious consumer sentiment and potential buyers waiting for new-model launches.

After nine months, new-car sales were off 14.1% at 370,871 units, while CV deliveries slipped 11.4% to 47,562. But an optimistic MAA predicts October will see buyers push the market back into positive territory.

Local production continued to fall with the September build down 9.4% from like-2015 to 41,453 units, with the car output off 6.2% at 38,831 and CV assemblies slumping 39.7% to 2,622.

With three quarters of the year completed, domestic production was down 16.5% at 386,965 units. The number of cars built fell 16.7% to 354,771 units and the CV build was off 13.9% at 32,194.

National automaker Perodua says its 9-month sales fell 4.2% to 150,900 units for a 36.1% market share. Third-quarter sales dropped 7.5% to year-on-year to 45,300.

In a statement published by the government news agency Bernama, President and CEO Aminar Rashid Salleh says Perodua is cautiously optimistic it can reduce the sales drop.

“We believe that the fourth quarter of the year will continue to be challenging due to the current economic conditions, as well as competitors’ sales activities,” Aminar says.

Proton also responds to Malaysian Prime Minister Najib Razak’s endorsement of ride-sharing services such as Uber and Grab by saying it will offer a 4,000 ringgit ($956) rebate for those buying a new Iriz to become a ride-sharing driver.

“The company appreciates and is thankful to the government with its clear objective to support the national car in its effort to spur the automotive industry as this initiative provides tangible growth and economic opportunities,” Proton says.

Bernama also reports Naza Quest, the country’s sole distributor of General Motors products, aims to sell 2,200 Chevrolets next year and increase its market share to 3%.

Vice President Farid Rosli says the all-new Colorado pickup truck is expected to account for 1,300 deliveries, or 60% of sales.

Farid tells reporters at the Colorado launch in Kuala Lumpur that GM expects to sell about 1,000 Chevrolet vehicles this year, up from 952 in 2015.