Malaysian Automotive Association lowers vehicle sales outlook

PETALING JAYA: The Malaysian Automotive Association (MAA) has revised its total industry volume (TIV) for this year to 670,000 from 680,000 units earlier, owing to declining vehicle sales in the first half of this year.

According to MAA, sales from the start of the year to June fell to 322,184 from 333,156 units in the previous corresponding period, mainly due to subdued business optimism and moderation in consumer spending as a result of the economic uncertainties and increased cost of living.