Every day you could read online how Malaysia is going bankrupt and how ordinary Malaysian are suffering because they pay in USD for their roti canai banjir and GST for zero-rated household items.
A proof that Malaysians are suffering financially is that car sales have gone up.
According to the Malaysian Automotive Association (MAA), car sales in March 2017 jumped by 26.5% compared to February. That is a whopping 11,262 units more!
That is also a 10% increase compared to March 2016 – 53,717 units compared to 48,788 last year.
Almost 141,000 cars were sold in the first quarter of 2017. That is almost 10,000 units more than the corresponding period in 2016.
Of course, Najib Razak has failed to turn the economy around. Things were far more affordable back then and the USD was at RM2.50 compared to what it is now.
The following table will show how cars were far more affordable during U-Turn Mahathir’s time.
Just before Mahathir became the Prime Minister, only 97,262 vehicles were registered. 19 years into his premiership registration was at 343,173.
The population of Malaysia then was 23.42 million. Therefore the ratio was one vehicle to every 68 Malaysians.
When Najib Razak took over in 2009, the population was 27.79 million. The number of registered vehicles for that year was at 536,905. The ratio was one vehicle for every 52 Malaysians.
Najib Razak has been running the economy down since then. In 2015, six years into his premiership, the numner of vehicles sold and registered for that year was 666,674. The population was at 30.33 million.
Therefore the ratio of vehicles to population was 1:45.
What does this say? Only one thing.
Malaysians are getting poorer because they can afford to spend and buy more cars.
Then they complain about car prices.