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The Malaysian Automotive Assn. cuts its 2015 sales forecast 1.5% after a 3.3% drop in the first-half result.
The lowered forecast – to 670,000 units from an initial 680,000 – follows a first-half result of 322,184 deliveries, down from 333,156 a year earlier.
New-car sales eased 2.3% in June to 50,695 units, while the commercial-vehicle segment rose 1.2% to 6,742.
After six months, new-car sales were off 3.5% at 286,533 units, while the CV market was off 1.9% at 35,651.
The MAA cites curtailed business optimism and moderation in consumer spending as a result of economic uncertainties and an increased cost of living.
The decline in consumer sentiment followed the April 1 introduction of a 6% goods and services tax, replacing a 10% sales tax and a 5% service tax.
Malaysia’s The Star newspaper quotes MAA President Aishah Ahmad as saying stringent lending practices, especially for hire-purchase loans, also impacted sales.
“We believe the second half of the year is going to be a much more challenging one for the local economy as well as the automotive sector,” she tells a news conference.
MAA data shows first-half production rose 3.1% to 327,664 units with the car build rising 3.5% to 302,102 and CV output down 3.1% at 25,562.
Ford saw its June sales jump 57% to 1,001 units with the Ranger, EcoSport and Fiesta all showing month-over-month sales growth. Ranger deliveries alone soared 68% to 693 units, leaving its first-half total up 31% at 4,821.
