KUALA LUMPUR, June 16 — Supply disruptions affecting the delivery of new vehicles have slowed the inflow of trade-ins to the used marketplace, said Federation of Motor and Credit Companies Association of Malaysia president Datuk Tony Khor.
“The demand for used cars shot up eight per cent in the first quarter of 2022 and the price also rose about five per cent for cars less than five years of usage.” “But there is no significant price increase in the consumer market as it’s currently being absorbed by car dealers, so we are getting a lesser profit margin,” he said in the report.
However, Cheah said this has been offset by more people selling their used vehicles in the wake of the Covid-19 pandemic.
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