Following the new all-time record posted in 2013, in January 2014, accordingly with data released by M.A.A., the Malaysian Automotive Association, total light passenger vehicles sold in Malaysia have been 49.718, losing 9.7% from last year.
The strong 2013 had been driven by economic factors as the unemployment rate was around 3% and the deep deflation started in early 2013 ended in Q4 2103 when inflation rate was near 5%. Real GDP in last two quarters was back above 5% from the slower trend kept in the previous two.
However, for the current year, economists warn Malaysians to brace themselves for higher costs of living and aggressive price hikes in 2014, as a result of government measures to address a national fiscal deficit. Two specific factors could hit the car sector: inflation rate, that is expected at 2.8% with vehicles price projected up 4% while fuel prices will keep increasing again as a result of the government’s subsidy rationalisation program meant to address the fiscal deficit. As petroleum products are among the nation’s most heavily subsidised, the restructuring of subsidies is expected to trigger constant fuel price hikes.
The market leader Perodua sold 17.853 vehicles with share at 31.0%, showing a strong recovery from December. The second maker, Proton sold 11.939 units with share at 20.7%, almost stable from the previous quarter. The third and first import was Toyota, stable at 14.0% of share with 8k sold. Behind three Japanese, with Nissan advanced in fourth ahead of Honda and Mitsubishi.
In the interactive tables below you can sort thru the Top brands and Best-selling model as you like:
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(Source of economic charts is Moodys Analytics)