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Friday, June 19, 2009

Malaysia auto sales sink 8.3 pct: industry - MSN

Malaysia's auto sales plunged 8.3 percent year on year in May to 43,944 units, an industry group said Thursday.

However, the Malaysian Automotive Association (MAA) said the figure was up from the 41,135 vehicles sold in April, helped by a 16.6 percent jump in sales of domestically made cars.

It added that sales of imported autos dipped 4.5 percent from April as a result of an unexpected increase in interest rates on hire-purchase loans.

Sales of motor vehicles totalled 203,760 in the first five months of the year, 11 percent lower than at the same point in 2008.

The industry group forecast sales at 480,000 units for the whole of this year, down from 548,115 last year.

-- Dow Jones Newswires contributed to this story --


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