Annual sales of used cars which used to be in excess of 300,000 units, dropped by 5% in 2018 and may drop a further 5% according to the Federation of Motor and Credit Companies .
“We hope the government can create activities for the economy,” he told FMT, adding that he believed some mega projects would bring about such activities. Among the factors affecting sales, he said, were the rising cost of living and the difficulty of getting bank loans encountered by potential buyers with low or middle-level incomes.
Khoo also said he hoped the government would allow Approved Permit holders, who are Bumiputeras, to appoint non-Bumiputera dealers.
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