Vehicle sales continued to sink in February, falling 4.8 percent as the downturn saw finance institutions adopt tough loan approval standards, an industry group said today.
The Malaysian Automotive Association said that continued "low consumer confidence" amid the global economic crisis and "stringent evaluation on applications for hire purchase loans" were hurting sales.Auto sales in Southeast Asia's biggest passenger car market contracted 4.8 percent year-on-year in February to 36,675 from 38,527.
Sales volume in February was 1,126 units or 3.0 percent lower than the previous month, it said. Vehicle sales plunged 17.5 percent year-on-year in January as consumer confidence nosedived.
But the association said sales in March would pick up due to "slightly improved consumer confidence" and a "longer working month."
The association in January predicted that Malaysia's vehicle sales would fall 12.4 percent in 2009 due to a slowing economy and poor consumer sentiment amid the global economic slump.
The industry group forecast sales at 480,000 units for 2009, down from 548,115 last year.
Malaysia recently said that its economy could contract by 1.0 percent in 2009 despite a massive RM60 billion stimulus package, dumping its earlier target of 3.5 percent growth.
Good ah...To begin with, the public transport leaves much to be desired. So, no choice but to buy car...no car also die, got car also die...get caught in bumper-to-bumper crawls...so, what to do? Can't do anything. The government has promised for donkey's years to improve the public transport. Even the donkey can travel faster than a car in a city.
2 comments:
Bad traffic every day in KL, worst when it rains because of bad road design.
Brainless people still design and built road like yesteryear's without anticipating the increase volume of cars
No proper master plan or proper planning for new roads.
Road design that leads to bottle necks are the worst culprit.
Don't know which idiot design the road and another idiot approve for it to be built.
And worst still are road access to residential areas (taman2)
And the width of our roads still remain the same where else the trucks and lorries nowadays had grown much bigger in size.
The poor motocyclist has to bear the brunt of narrow roads.
Our public transport... crap...
All this because our politicians sucks...
Only know how to built Toll road with lopsided agreement where the Gomen have to pay 300miliion to these blood suckers. Yeah, the agreements are confidential and protected by the Official Secrets Act(OSA) What so secret about a road? We are not talking about Scorpene Submarines here.
This is daylight robbery.
the days of mini buses for public transport years ago were much better than the present fleet of empty big buses plying the roads and packed lrt cabins on the rails.
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