CAR DEALERS CRISIS TEAMCAR - There is a glut of 250,000 cars in the Malaysian market with no buyers, said Edaran Automobile Nasional Dealers Association of Malaysia (Edam) president Datuk Ismail Din.

This, he said, was making it difficult for national car dealers to remain in the business.
The figure includes new and used cars of all makes.

He said it was a norm to have at least 550,000 cars for sale in the market but studies showed there were now 800,000 cars for sale in the market.

“We believe this is caused by the credit tightening measures imposed by finance companies, the new National Automotive Policy and a slump in the car market industry.

“The other suggestion was to find ways to export reconditioned Proton cars to Third World countries and even this is still in the discussion stages,” he said.

Syed Hisham assured the dealers that things would get better by the end of the year.
(THE STAR)  ¶ 3:32 PM