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Malaysia's new auto sales rise 31 percent in January

Malaysia's new auto sales rise 31 percent in January

Sales of new motor vehicles in Malaysia soared 31 percent from a year ago in January, marking a good start to the year after a slump in 2007, an industry group said Wednesday.
Sales in Southeast Asia's biggest passenger car market rose to 45,828 units, up 8.5 percent from December, the Malaysian Automotive Association said in a statement.
It attributed the higher sales to improved consumer confidence, new model launches and strong demand ahead of the Lunar New Year holidays in February.
The association said sales in February are expected to be higher compared to a year ago but it may be lower than in January because of fewer working days during the month.
New auto sales in Malaysia slipped for a second straight year in 2007, falling 0.7 percent from 2006 to 487,176 units.
The association expects sales to grow 4.7 percent this year to 510,000 units, underpinned by a strong economy and the launch of new models. An anticipated increase in fuel prices isn't expected to hurt overall volumes, although it may prompt consumers to choose smaller engine-capacity vehicles, it has said.


Updated : 2021-05-11 04:02 GMT+08:00