GEORGE TOWN: The Federation of Motor and Credit Companies Association of Malaysia is revising its forecast of used-car sales for 2009 to a growth of about 7% from last year, due to better sales in the third quarter, from a 10% drop earlier.
In July, the federation had forecast a 10% fall in sales for the year because of poor sales in the first quarter.
Its president Datuk Tony Khor told StarBiz recently that the used-car industry had performed well in the third quarter with an improvement in sales of about 20%, compared with the corresponding period of 2008, and this was expected to influence the industry� performance for the remainder of the year.
�The third quarter registered about 140,000 in sales of used cars nationwide.
�We are expecting the fourth quarter 2009 to perform as well as the third quarter.
�For the whole of 2009, the used-car industry in the country is expected to achieve about 480,000 in sales, compared with about 450,000 sold in 2008,� Khor said.
�The sales of 480,000 used cars translate to about RM14bil in revenue for the used-car industry, based on the average used-car price of about RM30,000 per unit,� he added.
Due to the global economic crisis, sales of used cars were affected starting in the third quarter of 2008.
I think because of inflation, recession and unemployment rate has increased a lot in past couple of years which has directly affected the rate of buying used cars for sale people.
ReplyDeleteI think there are some important point should be seen while buying used cars for sale from owner... like:- Body Style, Mileage, Exterior Color,Interior Color,Color Description, Engine Transmission, Drive Type, Fuel Type, Doors, Stock No., VIN, Trim Level & Installed Features.
If these all factors would be on clean side then I think buying cars for sale by owner would not become a big deal and anyone would pay the price happily which has been kept.