Malaysia's car sales down on year in May
18 Jun 2025, 17:15 GMT+10
KUALA LUMPUR, June 18 (Xinhua) -- Malaysia's car sales slipped 3.2 percent year-on-year to 68,007 units in May, bringing the total industry volume (TIV) in the first five months fell 4.97 percent to 316,737 units.
The Malaysian Automotive Association (MAA) said in a statement on Wednesday that the TIV for May was 12.4 percent higher than 60,527 units in April.
According to the MAA, the higher TIV is attributed to a higher number of working days in May compared to April, continued strong promotion activities, and delivery of vehicles from bookings collected in the first quarter.
In terms of car production, the volume in May fell 11.58 percent year-on-year to 65,970 units. The car production for the first five months also dropped by 12.4 percent to 299,866 units.
"TIV for June is expected to be lower than May due to a week-long plant shutdown during Eid al-Fitr by major makes," the MAA said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
4 hours ago
- The Star
Oil prices little changed as expectations for OPEC+ increase weigh
SINGAPORE: Oil futures were little changed on Wednesday as markets weighed expectations from more supply from major producers next month, a softer U.S. dollar and a mixed bag of economic and market indicators from the U.S., the world's largest oil consumer. Brent crude slipped 4 cents to $67.07 a barrel at 0618 GMT, while U.S. West Texas Intermediate crude fell 9 cents to $65.36 a barrel. Brent has traded between a high of $69.05 a barrel and low of $66.34 since June 25, as concerns of supply disruptions in the Middle East producing region have ebbed following the ceasefire between Iran and Israel. Weighing on prices, sources said American Petroleum Institute data late on Tuesday showed U.S. crude oil inventories rose by 680,000 barrels in the past week at a time when stockpiles typically draw amid the summer demand season. "Today's oil price moves are being pushed by the interplay of potentially rising OPEC+ supply, confusing U.S. inventory signals, uncertain geopolitical outlook, and macro-policy ambiguity," said Phillip Nova senior market analyst Priyanka Sachdeva. However, planned supply increases by the Organization of the Petroleum Exporting Countries and its allies including Russia, know as OPEC+, appear already priced in by investors and are unlikely to catch markets off-guard again imminently, she added. Four OPEC+ sources told Reuters last week the group plans to raise output by 411,000 barrels per day next month when it meets on July 6, a similar amount to hikes agreed for May, June and July. The market is already seeing the results of the previous OPEC+ increases with Saudi Arabia, the world's biggest oil exporter, lifting shipments in June by 450,000 bpd from May, according to data from Kpler, its highest in more than a year. "With geopolitics at bay for now, oil futures (are likely) to trade within a tighter range this week, as global economic concerns persist, with an 'easing dollar' as the only exception to extend any upward traction," said Sachdeva. The greenback fell to a 3-1/2-year low against major peers earlier on Wednesday and a weaker dollar would support prices as its could spur demand for buyers paying in other currencies. U.S. non-farm payrolls data due on Thursday will shape expectations around the depth and timing of interest rate cuts by the Federal Reserve in the second half of this year, said Tony Sycamore, analyst at IG. Lower interest rates could spur economic activity which would in turn boost oil demand. Official U.S. oil stockpile data from the Energy Information Administration is due Wednesday at 10:30 a.m. ET. - Reuters
The Star
5 hours ago
- The Star
Indonesia eases regulation on franchising businesses
JAKARTA: Indonesia has eased registration requirements for companies seeking to franchise their businesses, aiming to streamline the process, Xinhua reported. The modified rules are stipulated in the 2025 Ministerial Regulation No. 25 on Procedures for Issuing Franchise Registration Certificates by Local Administrations. At a press conference here on Monday (June 30), the country's Trade Minister Budi Santoso (pic) said those franchising businesses that have registered for a permit and obtained the registration certificates will be eligible to operate in any region, despite no confirmations from local administrations within five working days. Santoso explained that the modified rules were prompted after the ministry found out that the issuance of registration certificates by each regional government often took a long time, potentially hindering business operations across the country. Prior to the easing, local administrations had authority in issuing the certificates. - Bernama-Xinhua
New Straits Times
9 hours ago
- New Straits Times
Gold steadies as investors eye US payroll data, assess Fed signals
NEW YORK: Gold prices held steady on Wednesday as investors awaited U.S payroll data and weighed Federal Reserve Chair Jerome Powell's cautious stance on rate cuts, while a softer dollar and the passage of a US tax-and-spending bill provided support. Spot gold was stable at US$3,338.22 per ounce, as of 0036 GMT, while US gold futures were unchanged at US$3,347.80. The US dollar index weakened to its lowest point in more than three years, making greenback-priced bullion more affordable for holders of other currencies. US Senate Republicans narrowly passed US President Donald Trump's tax-and-spending bill on Tuesday, a package cutting taxes, reducing social safety net programmes, and boosting military spending, while adding US$3.3 trillion to the national debt. Meanwhile, the US could reach a trade deal with India that would help American companies compete in the South Asian country and leave it facing far lower tariffs, Trump said, while casting doubts on a possible deal with Japan. Trump added he was not considering an extension of the July 9 deadline for countries to negotiate trade deals. Powell reiterated that the US central bank plans to "wait and learn more" about the impact of tariffs on inflation before lowering interest rates, again setting aside Trump's demands for immediate and deep rate cuts. Trump emphasised he has two or three top choices to replace Powell as Fed Chair. US job openings unexpectedly increased in May, but a decline in hiring added to signs that the labour market had shifted into lower gear amid uncertainty over the Trump administration's tariffs on imports, with a 90-day pause on higher reciprocal duties drawing to an end. Investors are now awaiting US ADP employment data on Wednesday and Thursday's payroll figures for further insights into labour market conditions. Spot silver held steady at US$36.07 per ounce, platinum rose 0.7 per cent to US$1,359.78, while palladium gained nearly 1 per cent to US$1,108.
