MAA: 2020 annual new car sales to be down by 34 percent

The Malaysian Automotive Association (MAA) has revised its forecast for 2020’s total industry volume (TIV), the industry term for total new car sales, from 607,000 units to 400,000 units due to the on-going MCO.

The reduction represents a 34 percent reduction in annual sales. The last time Malaysia’s TIV dropped below the 500,000 psychological barrier was in 2007, with 487,176 units sold.

Last year, the TIV was 604,287 units, up 1 percent from 2018.

MAA president Datuk Aishah Ahmad said the movement control order (MCO), which was implemented on March 18, had severely impacted car sales and consumer sentiment.

“We had discussions with our members and decided to revise our TIV forecast for 2020,” she told StarBiz yesterday.