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I wonder how, I wonder why. 600,000 people needed a NEW car in 2019.

People say that people need a car even here in Greater Kuala Lumpur because our current public transportation is just not comprehensive enough. Well, I could only think of a few higher end areas where there’s no MRT / LRT stations within a few minutes of walking or driving. As for the locations where most of my friends are staying, I know that they could DRIVE to the nearest MRT / LRT stations and it will take them probably 10 minutes.

One senior manager could walk to the nearest station which is minutes away from the door to her high-rise condo nearby KLCC. So, do people really need a car? I think I will leave it to their personal choices. However, with regards to the question of whether people need a NEW car instead of a second-hand one, the answer is YES. 600,000 of them certainly believes in 2019.

Article in themalaysianreserve.com Kenanga Research analyst Wan Mustaqim Wan Ab Aziz is optimistic that car makers would be able to sell more than 600,000 cars for 2019. This is especially so with the year-end promotional activities currently. He said, “I think there would be no problem. The number as of end-October stood at 496,000 units, which means about 104,000 units left. Based on rough calculations, car sales this year would be well above 600,000 units if a similar figure in October is achieved in November and December.”

The two local brands; Perodua and Proton have been doing well this year. Perodua is expected to retain its No 1 ranking with the last reported number of cars sold hitting over 201,000 units as of October. Meanwhile Proton is on course to settle in the No 2 position based on volume and market share this year after a four-year absence, edging out Honda Malaysia Sdn Bhd in an increasingly competitive market. Do refer to the full Article in themalaysianreserve.com

Anyway, assuming people are right. Without cars, they could not go to work, then WHY must it be new cars then? Perhaps the reason is more to do with choice… and not so much of just convenience alone. Plus, it is plain to see that people are earning enough salary that their car loans were approved by the banks. Does this mean that buying a car may just be the stumbling block to a property instead?

Of course, besides buying a car, there’s also this important reason too. Earlier article here: Travelling is making it harder to buy a property Nope, I did not buy a new car in 2019. I did buy a new car in 2009 and 2013. Perhaps I may become a statistic in 2020? At the moment, still undecided. Happy deciding yeah.

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Next suggested article: Young people will stop buying cars? Really?

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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