MAA: Car dealers posted RM14b losses due to plunge in car sales


MAA president Datuk Aishah Ahmad said local automotive industry had suffered huge losses since motor vehicles production plants, distributions centres and sales centres especially in Klang Valley were halted since June 1, 2021.

KUALA LUMPUR: Car dealers in the country posted total losses of more than RM14bil in June and July due to plunge in sales of vehicles in the domestic market, revenue loss from the closure of showroom.

Following the movement control order (MCO), the Malaysian Automotive Association (MAA) said on Monday the local automotive industry had suffered huge losses.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

IRDA's RM636bil investment goal to help propel Malaysia into top 30 global economies
DXN Holdings net profit for FY24 rises to RM310.99mil
Ringgit closes slightly lower against US dollar
Inta Bina bags RM170mil construction job
PETRONAS Gas commits to sustainability, announces total dividend of 72 sen per share
Crest Builder bags RM486mil condo job
Axis-REIT optimistic of maintaining its current performance for FY24
KIP REIT aims for RM2bil AUM
ATX Semiconductor to boost investment in Melaka to RM952mil
Haily gets RM109.5mil residential construction job

Others Also Read