Malaysia car sales on pace to exceed 2022 forecast, despite rising inflation and higher costs

WHEN Desmond Tan, a 27-year-old marketing executive in Kuala Lumpur, placed an order for a car - a Perodua Ativa - in June, the dealer said the earliest he could get stocks of the 5-seater SUV would be in February or March next year.

That long waiting time didn’t bother Tan too much, as all it cost him was a RM100 (S$31) booking fee, which is fully refundable if he changed his mind about the purchase or failed to secure a vehicle loan.

“I don’t plan to apply for the loan so soon, as I’m still thinking if I should buy a new car. I placed the booking first as it’s a good deal, because I can save around RM2,000 on the sales and service tax (SST),” he told The Business Times.