PETALING JAYA: The Malaysian Automotive Association (MAA) foresees 2019 to be another challenging year, estimating a flat 0.21% growth in the total industry volume (TIV) for the year at 600,000 units, from 598,714 units in 2018.
MAA president Datuk Aishah Ahmad said the forecast factors in the economy, weak ringgit, moderation in consumers’ spending, among others.
After two years of consecutive contraction, the local automotive market had rebounded in 2018.
TIV of new motor vehicles registered in 2018 rose 3.8% to 598,714 units, from 576,625 units in 2017.
Source: The Sun Daily