PETALING JAYA, Aug 15 — Used-car dealers in the Klang Valley have had a horrid year so far with sales falling to new lows, forcing some of them to consider throwing in the towel.

Malay Mail visited several dealerships and all shared the same plight with some wanting to quit the industry for greener pastures.

Some cars had been in their showroom for over a year and many dealers struggle to sell even one car a month.

Jimmy Wong, 50, said sales dropped by over 60 per cent compared with the beginning of last year.

"The first half of last year was good as I averaged about eight units a month. From July until December, I averaged four units a month,” he said at his showroom in Jalan Klang Lama.

"This year, I managed to sell three cars a month but the second half will be a struggle.

"People are spending more on other daily necessities and the younger generation is simply not earning enough to afford a 

used-car.”

Wong said people were not willing to trade in their cars as it would result in bigger losses for them.

"The average price of a low-end sedan could cost about RM50,000 and a seller would lose half the price despite only using the car for three years.

"They cannot afford to trade in for another vehicle under a five or seven-year bank loan,” he said.

He said people still patronised his dealership "but end up buying nothing”.

"Customers used to come and tell me their budget and I would see what kind of car I could offer them,” he said. 

"Now their most famous line whenever they walk in would be ‘Which one is the cheapest?’ or ‘Which one can get full loan’?”

At PJ Old Town, Chin Tong Ming, 58, who has been in the industry for over 20 years, said the festive seasons used to yield good sales.

"Whether it was Chinese New Year, Hari Raya or Deepavali, people would buy a car so they could have a pleasant drive back to their hometowns,” he said.

Chin said his profit margin for each car sold had been slashed by half.

"In 2013, I made a profit of RM2,000 to RM5,000 for each car but since last year, I could only get up to RM1,000 to RM2,000.

"What makes it harder is banks are not approving loans because of various reasons such as the buyer’s pay falling short of the bank’s requirement or lack of a stable guarantor.”

Zaidatul Roslan, 25, said her dealership in Kelana Jaya could sell at least one car a day three years ago.

"Now my sales have dropped by almost 90 per cent regardless of whether it is a Malaysian or international model of car. I struggle to even sell one in two weeks,” she said.

Zaidatul said she would consider switching jobs if the market did not improve.

"My income depends on my sales. Over the last six to seven months, I have been taking only my basic pay home,” she said.

Michael Wong, 40, who owns a car dealership in Damansara, said he plans for another business.

"I hope to venture into another market. Over the last year, I have suffered losses amounting to RM40,000,” he said.

"If the decline continues, I will be out of this business for good.”