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Crisis, Socioeconomic Development and Car Demand in Malaysia

In: Global Automobile Demand

Author

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  • V. G. R. Chandran

Abstract

The global crisis that started in September 2008 has demonstrated the magnitude of its uncertainty and the extent of its impact. While the impact has been largely felt in the United States, the emerging economies nevertheless have been also impacted to a greater extent. Malaysia, for instance, recorded a slowdown in which its economic growth contracted by 1.6% in 2009. However, Malaysia was able to rebound and recovered from the crisis much faster than others. Malaysia, with its various economic stimulus, recorded a real growth rate of 7.2% in 2010, but growth later slowed in 2012 and 2013 by 5.6% and 4.7%, respectively. Generally, the crisis is found to have had a profound effect on varying aspects: from demand to income to the ability of customers to secure credit. There is no exception in the car industry in Malaysia.

Suggested Citation

  • V. G. R. Chandran, 2015. "Crisis, Socioeconomic Development and Car Demand in Malaysia," Palgrave Macmillan Books, in: Bruno Jetin (ed.), Global Automobile Demand, chapter 15, pages 185-205, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-51617-6_9
    DOI: 10.1057/9781137516176_9
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