HP Amendments A Boost For Car Sales

Although BMI has revised down its Malaysian passenger car sales growth forecast for 2011 from 4.3% to 2%, amendments to the Hire Purchase (HP) Act, which had aroused concerns among industry players, have now been revised and should enable total vehicle sales to still reach record levels. The recovery of the supply chain for Japanese carmakers will also ensure sales in H211 are an improvement following the disruption in Q211, which means even our now lower total vehicle sales forecast of 617,875 units in 2011 will still be a record. Total vehicle sales for H111 were down 1.3% year-on-year, to 297,203 units.

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