Malaysia Auto sales down BIG. Good luck on GDP targets.

From dj news wires:

Malaysia's vehicle sales fell 23% in April from a year earlier due to the introduction of a consumption tax during the month, the Malaysian Automotive Association said Monday.

Sales of both passenger and commercial vehicles totaled 45,187 units in April compared with 58,781 units a year earlier. However, vehicle production rose 7.0% year-on-year to 61,534 units in April from 57,586 units.

This is by far a horrible number. Compared with March which saw a 13% increase.  I'd rather have no increase in March than no decrease in April.  Combine March and April, we have 112, 501 cars sold, a decrease of 4.3 percent.

With the lack of current economic in Malaysia, this is probably the most important and relevant economic data out of Malaysia every month.  The percent of GDP Malaysia makes off of cars is ridiculous.

This about summarizes the effect of GST.  GDP will take a major hit.

With sales down and production up...guess who's going to have a bloated inventory...you guessed it auto makers.