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Vehicle sales fall 15% in May


  • Auto
  • Thursday, 21 Jun 2018

In a statement yesterday, the Malaysian Automotive Association (MAA) said the announcement of zero-rated Goods and Services Tax (GST) on May 16 had resulted in market uncertainties.

In a statement yesterday, the Malaysian Automotive Association (MAA) said the announcement of zero-rated Goods and Services Tax (GST) on May 16 had resulted in market uncertainties.

PETALING JAYA: Vehicle sales fell 15% to 42,983 units in May 2018 from 50,594 units in the previous corresponding period, marking the fourth consecutive month this year that car sales have been declining.

In a statement yesterday, the Malaysian Automotive Association (MAA) said the announcement of zero-rated Goods and Services Tax (GST) on May 16 had resulted in market uncertainties.

“Many customers were holding back on the purchase and registration of new vehicles,” it said.

For the five-months period ended May 2018, vehicle sales dropped to 225,212 units from 234,180 units a year earlier.

The MAA said it expects vehicles sales in June to be “much higher” than it was last month, boosted by the zero-rated GST and Hari Raya festive season promotional campaign and offers.

Auto , Automotive , Corporate News , Auto , sales , May

   

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