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Only a limited number of researches have been conducted to study the consumer behavior in Malaysian automotive market so far. In fact, Malaysia is going to face the consequences of Asean Free Trade Agreement (AFTA) in year 2005. Considering that Malaysia belongs to one of the most highly protected automobile markets in the world in order to shield the national car manufacturers, certainly AFTA will enable global car manufacturers to come into Malaysia with serious challenges. Based on current situation, this research tries to find out some crucial factors underlying the consumer behavior. The model of five consumption values by Gross, Newman, and Sheth (1991) was adapted to serve the research framework.