Malaysia Below Par, But Recovery Expected

As a 14% y-o-y decline in new vehicle sales in February marked the 13th consecutive month without growth for the Malaysian automotive industry, the outlook appears bleak for the market. Following a contraction of 11% for the year in 2006, sales for January and February 2007 combined fell by 14.6%, with production down by 38% y-o-y. It is still early days, however, according to BMI's recently published Malaysia Automotives Report, which suggests that sales of over 500,000 units can still be achieved in 2007. This echoes the prediction of the Malaysian Automotive Association that new model launches later in the

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