KEY POINTS:
♦ The Total Industry Volume (TIV) for the month declined by 22% or 12,219 units month-on-month compared to the TIV for December 2019.
♦ The decline in sales was attributed to the short sales month with the Chinese New Year festive season holidays.
♦ Historically, January sales are also lower than December as the last month of the year sees a big push by companies to move stocks and end the year with a high number.
♦ There was also uncertainty concerning a revision in Excise Duties with rumours that prices may change. However, the Finance Ministry clarified this this will not happen in 2020.
♦ Looking ahead, the MAA feels that February 2020 sales will show improvement since the uncertainties have been resolved.
♦ As always, there are new models to come which will bring customers to the showrooms. An early newcomer is the locally-made Proton X70 while the new 10th generation of the Honda Accord will be launched during this quarter. Models like the Perodua Bezza also continue to have a backlog of orders.
