Forecast sees 8% drop in Malaysian car sales

Frost & Sullivan, global consulting firm, said that it expects sales of vehicles in Malaysia to drop by 8.1 % this year to 501,500 units due to the economic slowdown and limited new model launches. The firm’s partner and head of the automotive and transportation practice for Asia-Pacific, Kavan Mukhtyar, said that sales of passenger vehicles, including sport utility vehicles, multi-purpose vehicles (MPVs) and cars will drop by 6.8% as consumers will be more cautious in applying for car loans, given the current job market. (January 6, 2009)