Lowers forecast for 2006 vehicle sales TEAMCAR - After eight consecutive years of sales growth, Malaysia's motor vehicle industry may see figures dipping slightly this year.

Malaysian Automotive Association (MAA) president Datuk Aishah Ahmad said the association had revised its forecast for 2006 and that total vehicle sales would likely shrink 6% to 520,000 units.

“This slump is cyclical. Car sales also declined in 1998 and 1992 and data show sales picked up after those years. Thus, we are hopeful (the downward slide in) sales will begin to stabilise by year's end and we can hope to see some recovery in 2007,” Aishah said at a briefing yesterday.

Sales of Perodua cars, at 78,396 units, have also overtaken that of Proton's. It was a 22% increase from the first half of 2005, and Perodua now has a 42% market share in the passenger car segment.

Aishah said the main reason for Perodua taking over of the market leadership position was healthy sales of its best-selling Myvi model and that cost-conscious consumers were now opting for fuel-saving vehicles. Perodua also enjoyed better brand perception, she said. (THE STAR)  ¶ 4:19 PM