Malaysia's vehicles sales were static in 2007, as stringent loan approvals and lower used car prices crimped growth, the Malaysian Automotive Association said Tuesday.
Total vehicle sales rose just 0.7 percent to 487,176 units and passenger car sales, which represent 91 percent of the total, slipped 0.7 percent to 442,885 units, the industry body said.
However, car sales in December jumped 15.4 percent to 42,244 units from a year earlier as better consumer sentiment, aggressive new model launches and orders from the government boosted sales, it said.
"The positive sales trend since June 2007 would continue to spill over to 2008 as market conditions and consumer sentiment are favourable," said MAA president Aishah Ahmad.
The association, which groups vehicle assemblers, manufacturers and distributors, predicted sales would rise by 4.7 percent in 2008.
However, it also warned that a potential hike in fuel prices and rising inflation could derail that target.
Agence France-Presse - 1/29/2008 10:40 AM
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