Vehicle Sales Down By 10% in Oct 2022, Says MAA

The Malaysian Automotive Association (MAA) recently released its monthly vehicle sales and production report for Oct 2022. Both sales and production numbers dropped at 10% and 15% rate respectively.

Total vehicle sales for Oct 2022 were recorded at 61,002 units, while 58,991 units were produced in the same month. Meanwhile, a total of 67,659 vehicles were sold in Sept 2022, marking a 10% decrease in sales for Oct. Sept 2022 also saw a total of 69,389 units of vehicles being produced locally, which puts the Oct production number around 15% less than the previous month.

All in all, this has resulted in a 10% drop in Oct’s Total Industry Volume (TIV), with Sept’s TIV reads at 67,698 units.

The slight reduction of vehicle productions is due to the ongoing global semiconductor shortages and supply chain breakage, albeit at a much smaller scale this time around. For the drop in sales, car companies are still trying to clear their backlogs, with orders received prior to June 30 this year now being fulfilled at a slower pace due to said disruptions and shortages.

On the other hand, October’s year-to-date (YTD) sales showed an expected 50% increase compared to October last year. Again, this year’s much more lenient COVID-19 restrictions compared to last year played a huge role in this rather significant YTD increase.

As for Nov, MAA projects more or less similar sales and production numbers as Oct, with said supply chain disruptions still going on and won’t be fully resolved any time soon.

For the record, the 2022 vehicle sales and production are recorded at 577,902 and 567,752 respectively (as of Oct 2022).