Vehicle Sales Up Nearly 33% In May 2023 - MAA

The TIV was also higher than the previous high of 50,663 units in May 2022.

"The strong sales by the two national makers contributed much towards this higher TIV of May 2023," it said in a statement.
As a result, according to MAA, the TIV as of this point in the year was 300,978 units, up 12.3% from the same period in 2022. 

Similarly, the total production volume (TPV) for the year to date was 304,484 units, which was 18% more than it was for the same period in 2022. MAA also stated that the demand for new cars will remain strong in June as long as the domestic economic environment is largely supportive.

This is a result of the significant backlog of orders, though registration volume may be slightly reduced.