Car sales marginally lower in 2017, with 576,635 units sold : MAA

PETALING JAYA: The total industry volume (TIV) of new motor vehicles registered in 2017 declined marginally by 0.6% to 576,635 units in 2017 from 580,085 units registered in 2016.
Malaysian Automotive Association (MAA) president Datuk Aishah Ahmad said the local automotive market had remained subdued much of last year.
For the second consecutive year, the TIV had contracted, reflecting perhaps a down-cycle of the market that started in 2016.
"Despite our country's economic recovery and the aggressive promotional campaigns undertaken by MAA members, sales remained essentially flat in 2017. This can be attributed to the inflationary pressures affecting consumers' disposable income, which consequently resulted in cautious consumer spending," Aishah told a press conference on the automotive market review for 2017 and outlook for 2018 here this morning.
MAA is projecting a TIV of 590,000 units in 2018, a 2.3% growth from 2017.