Frost & Sullivan forecast the vehicles sales in Malaysia will dip to 615,900 units in 2011 from the earlier projected 623,000 units. The plunge is blamed due to supply chain disruptions from the impact of the March 11 Japan earthquake. It said that TIV for 2011 would be impacted due to production slowdown and delay in key models launches by automakers.
Frost & Sullivan partner and head of the automotive and transportation practice for Asia Pacific Kavan Mukhtyar said that the newly amended Hire Purchase Act was also likely to have an impact on TIV due to the longer lead time to complete the car purchase process.
Vehicle sales may have been slowed down considerably in the second quarter of 2011 but will likely pick up in early August due to the rush for Perodua Myvi delivery leading to Hari Raya Aidilfitri celebrations and Japanese automakers ramping up production, he said in a statement Thursday, July 14.