Malaysia’s vehicle sales see increase in January
The Malaysian
Automotive Association (MAA) said that the country's vehicle sales rose 23.3% year-on-year to 39'651 units in January 2005.
Stronger demand in anticipation of higher car prices in the coming months contributed to the increase in vehicle sales.
MAA pointed out that automobile prices will likely rise because of new duties structure in 2005.
The Malaysian government reduced duties on cars imported from the Association of Southeast Asian Nations (ASEAN) to 20% from January 1, 2005. Import duties prior to that ranged between 30-190%.
However, the excise duties on cars sold in the country surged to 90-250% from 60-100%.
Meanwhile, domestic vehicle output amounted to 40'984 units in January 2005, up 35.7% from a year earlier.