Cheaper new cars hit used car sales

THE sale of used cars has slowed down because of the cheaper prices of new cars and a change in “consumer taste”, said Deputy International Trade and Industry Minister Ng Lip Yong.  

“Cheaper prices of new cars have also resulted in lower values for used cars and trade-ins. Consumer belief that the prices of cars will reduce further, rising fuel costs and the high sales of (new) cars in 2004 and 2005 also contributed to the reduced number of overall car sales,” he said in reply to Datuk Hasan Malek (BN – Kuala Pilah), Shim Paw Fatt (BN – Tawau) and Datuk Lim Bee Kau (BN – Padang Serai).