2022 TIV Closed At 720,658 Units, 41.6 Per cent Higher From 2021 - MAA

The Malaysian Automotive Association (MAA) announced that the automotive industry set a new record in car sales last year when the total industry volume (TIV) reached 720,658 units. Datuk Aishah Ahmad, president of the Malaysian Automotive Association (MAA), said the achievement was remarkable because it exceeded the MAA's initial target of 630,000 units. "TIV 2022 surpassed the 700,000 unit level for the first time in history despite having to face various challenges such as the transition of the endemic phase, China's COVID-19 zero policy, Russia-Ukraine geopolitical unrest, the United States (US) and China trade war and supply chain issues.

"In comparison to the domestic market, the market is facing the challenge of computer chip supply issues and political uncertainty that ended after the 15th General Election (GE15)," she said this morning at a press conference at his office. She elaborated on the accomplishment, stating that TIV's performance was quite excellent due to a number of factors.

Among them are the government's decision to extend the sales and service tax (SST) exemption incentive until June 30, 2022, as well as low interest rates since 2021.