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FOR an industry that has seen sales stagnate over the last few years, 2020 started with a shock for the local automotive sector.
The one percentage point increase in car financing rates may only have minimal impact on vehicle sales in the longer term, but will likely boost sales of national cars at the expense of non-national vehicles, car dealers said.
PETALING JAYA: A total of 22,960 vehicles were sold last month, with nearly 60% of the units comprising national makes as more customers opted for smaller engine capacity vehicles or more fuel efficient cars in light of the economic uncertainty.
KOREAN-MADE cars made significant inroads in the local automotive market last year at the expense of national cars, which experienced a dip in market share, according to the Malaysia Automotive Association (MAA).