The Malaysian Automotive Association (MAA) has released vehicle sales data for the month of July 2022, announcing that a total of 48,922 new vehicles were delivered to buyers last month. This is a decrease of 14,641 units from the 63,563 vehicles (originally reported as 63,366 units) sold in June, or a 23% drop in volume.
According to the association, the high numbers in June were due to car companies managing to fulfil many orders received during the sales tax exemption incentive period, in anticipation of there being no extension after June 30. It added that the shortage of semiconductors chips and components continued to affect some makes, leading to the reduced volume last month.
Compared to the same month in 2021, July’s total is 552% (or 41,423 units) higher than the 7,499 units managed last year, when showroom sales continued to be affected due to the restrictions brought about by phase one of the National Recovery Plan (NRP).
As for the year-to-date total, the total industry volume for the first seven months of 2022 stands at 380,595 units, ahead by 48.3% (or 123,918 units) over the 256,677 units managed during the same timeframe last year.
The association projects sales in August to be similar to July levels, as car companies continue to attempt fulfilling the backlog of orders made during the sales tax exemption period. With the government’s decision to allow the SST exemption to be applied for any vehicle booked by June 30 and registered before March 31, 2023, the numbers should be consistent right into the end of the year, with final volume very much determined by production ability.
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