What caused the 2.3% dip in motor vehicles sub-sector sales?

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The motor vehicles sub-sector experienced a sales decline primarily due to a significant contraction in the sale of motor vehicles group.

The motor vehicles sub-sector recorded a year-on-year sales decrease of RM400 million, resulting in total sales of RM18.6 billion, a 2.3% dip. This downturn was predominantly caused by a contraction within the sale of motor vehicles group, which saw its sales fall by 11.4% to RM8.8 billion.
Decline in Motor Vehicle Sales Group

The primary factor contributing to the overall decline in the motor vehicles sub-sector was the substantial reduction in sales within the motor vehicles group itself. This specific segment experienced an 11.4% decrease, bringing its sales down to RM8.8 billion.
Consistency with Industry Data

This contraction in the sale of motor vehicles group aligns with figures reported by industry bodies. The Malaysian Automotive Association (MAA) noted a total of 61,250 vehicle sales during the period, while the Road Transport Department Malaysia (JPJ) recorded 66,089 vehicle registrations. These figures collectively indicate a subdued market for new vehicle sales.
Sub-sector Components Showing Growth

Despite the overall decline, certain components within the motor vehicles sub-sector demonstrated positive performance. Sales of motor vehicle parts and accessories increased by 7.8%. Furthermore, the maintenance and repair of motor vehicles saw a rise of 6.8%, and the sales, maintenance, and repair of motorcycles and related parts and accessories grew by 9.1%.

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What caused the 2.3% dip in motor vehicles sub-sector sales?

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