Malaysia - CV market rebounds strongly in Q4 in Malaysia despite contraction in the economy of 3.4%
By Jim Gibbins - 1st March 2021
Malaysia -The Malaysian commercial vehicle market over 2 tons gvw rebounded strongly in the fourth quarter of 2020, by 25% to 18,868 units from weak year-earlier earlier sales of 15,099 units, according to www.AsiaMotorBusiness.com analysis of industry data.
Malaysia’s economy continued to decline in the fourth quarter, however, by 3.4% year-on-year after a 2.6% contraction in the third quarter, reflecting depressed domestic demand due to ongoing measures to fight the spread of the COVID-19 virus. Over the full year the economy shrank by 5.6% - the steepest decline since the 1998 Asia financial crisis – with domestic consumption and investment sharply lower.
