Saturday, December 19, 2015

More consumers buying cars ahead of price hike in 2016

What say you on the issue below?


KUALA LUMPUR: Vehicle sales continued to climb in November as consumers bought forward after car markers warned of higher prices in 2016 following the weakening of the ringgit against major currencies.

The Malaysian Automotive Association (MAA) said on Friday it expects sales volume for December to be maintained at the previous month’s level.

It also cited the factor for the sales momentum due to the “continuation of aggressive year-end promotional campaigns especially by a number of players which have their financial year ended in Dec 31”.

In November, total industry vehicles (TIV) was 59,062 units, or 1.4% higher from 55,314 units a year ago. It was also higher by 0.5% or 299 units from October.
Of the TIV for November, passenger vehicles accounted for 49,438 units and the remaining 6,744 units were commercial vehicles.

The MAA said the higher sales in November were due to aggressive year-end promotional campaigns by many players and the car companies’ announcements of price increase in 2016.

For the January to November 2015 period, the TIV was 597,273 units or a 0.75% lower from the 601,827 units in the previous corresponding period.

Passenger vehicles accounted for 530,166 units and the rest or 67,107 units were commercial vehicles in the January to November of 2015.

However, production rose in November to 50,203 units in November from the 47,422 units a year ago. Passenger vehicles reported a 6.6% increase in production at 45,747 units from a year ago while fewer commercial vehicles rolled off the assembly line at 4,456 units from the 4,538 a year ago.

The MAA data also showed production of passenger and commercial vehicles in the January to November period increased by 4.4% to 569,374 units from 545,352 units a year.

No comments:

Post a Comment