February has traditionally been a relaxed month for vehicle sales (lowest for the year), as it is a short working month coupled with the Chinese New Year (CNY) holiday period.
Sales for February dropped nearly 4,000 units or 9% compared to January to 40,578 units.
Comparing year-to-date (January and February combined sales) figures, the market is at a downtrend – a reduction of 2.3% or 1,969 units lower compared to last year.
While a majority of the brands are experiencing a slower 2018, Perodua is enjoying the sales success of their new Myvi, adding over 4,000 units versus 2017. The strong demand and supply of Perodua also increased their market share to a staggering 40.9%, an all-time high.
Mazda continues their strong 2018 momentum, aided by healthy demand of the CX-5. In fact, SUV models have been the highlight of the 2018. Based on data, SUV models from brands such as Honda, Mazda, Mitsubishi, Nissan, Peugeot, Volkswagen, BMW, and Volvo are contributing significantly to their monthly sales.
With many companies extending their CNY promotions into the month of March, we expect the TIV to return to 50,000-unit level.