Malaysia’s total industry volume (TIV) of new motor vehicles for 2009 was down fractionally by two per cent to 536,905 units, compared to 548,115 units registered in 2008, the Malaysian Automotive Association (MAA) said.
This is great news for the auto industry, which was tipped for doom and gloom at the start of 2009, when the world’s economy was in poor health. Taking that into account, MAA’s initial forecast was a pessimistic 480,000 units, revised to half a million when things started to pick up by mid year. 2009 ended on a high as year-on-year sales volume in December surged by 20 per cent.
The momentum is expected to carry through, so MAA predicts a 550,000 TIV for 2010.