Malaysia New Car Sales Dropped Another 12% in MayAuto News
Malaysia's Total Industry Volume (TIV) in new car sales for May 2022 stood at 49,603 units - a drop of 12% compared to April 2022.
According to the sales stats presented by the Malaysian Automotive Association (MAA), the reasons contributing to this drop were due to two main aspects:
- Short working month due to the Hari Raya festive holidays
- Shortage of chips and components and logistics delay disruptions continue to affect some manufacturers
On a positive note, the Year-To-Date sales volumes comparison between May 2022 and May 2021 saw an improvement. Compared to the 49,603 units sold in May 2022, May 2021 was 2,396 units down at 47,207 units.
Looking at the projections for June 2022, MAA stated that there's a possibility that these figures will further improve due to the SST exemption finally coming to an end on 30 June 2022. Those who wish to enjoy the sales tax exemption may place their booking before this month's end and get the new cars registered before March 2023.