THE high-end vehicle market is less likely to feel the crunch from the lifting of the loan repayment moratorium than the low-end car market, said Malaysian Automotive Association (MAA).

MAA president Aishah Ahmad said that while people generally will not have the money to purchase new vehicles, high-end vehicles will not be impacted because “people who have the money still have the money” to buy.

“The low-end car market will be affected,” Aishah said.

Meanwhile, the used car market is seeing a boom with sales up by more than 100%, especially for cars below RM30,000, outside of Kuala Lumpur.

“Even the used car association is very surprised by the demand,” Aishah said.

“People are still hesitant to use public transport. They feel it is safer to be driving their own cars.”

Earlier this week, the government announced that the moratorium on bank loan repayments will not be extended beyond September. – July 24, 2020.