The Malaysian Automotive Association has released its latest figures for the commercial vehicle industry for April as the impact of the MCO continued to gravely impact the market.
99% Drop in CV Production
In terms of production the Association reported a 99% fall with only 35 units being manufactured during April. Similarly, sales saw a 98% drop off with only 10 units registered across the whole of the month.
The Malaysian Automotive Association also stated in its latest press communications that sales and production levels were expected to increase in May as a result of the restrictions being lifted. Despite the increased confidence for May, the outlook remained gloomy with the Association referencing banks approving less hire purchase loans as well as reducing hire purchase loans quantum.