Nissan to boost compact car and fuel economy vehicle market
- Filed under: Automotive Market, Nissan
- Date: Jul 23,2008
- Tags: Latio, Sylphy
An interest rate hike would have a significant impact on car sales in Malaysia.
“Customers are concerned over speculation that interest rates would be increased,” said Edaran Tan Chong Sdn Bhd executive director, Datuk Dr Ang Bon Beng.
“In fact, the new fuel structure has not affected sales as much, as customers can switch to smaller cars. But higher interest rates will have a negative impact,” he told reporters during a media tour of Tan Chong Motor assemblies Sdn Bhd’s plant in Serendah near here today.
According to Ang, customers were also concerned over drastic changes to their car loan repayment amid the slowdown in the economy.
During the January to May period this year, total industry volume (TIV) rose by 29 percent to 228,984 units from 176,959 units in the same period last year, he said.
During the period, Edaran Tan Chong had a five percent market share or 11,131 units compared to 6,015 units previously boosted by the sale of its Grand Livina, Latio and Sylphy models.
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