Vehicle Sales Climb by 7% in November, according to MAA

Following a 6 percent decline in October, Malaysia's new vehicle sales increased in November 2022 by 7% year-on-year (YOY) to 64,404 units. According to the Malaysian Automotive Association (MAA), a total of 642, 306 vehicles were sold overall in the first 11 months of this year which reads up to 45 percent from 443, 636 during the same period in 2021.

In addition, MAA noted that sales in November were up 6% from the 61,002 vehicles sold in the previous month. The majority of reservations made before June 30, 2022, the cutoff date for the exemption from sales tax on passenger vehicles, were also fulfilled by car companies.

In contrast, the nation's vehicle production increased 13% from 58, 079 units in November 2021 to 65, 669 units in November 2022.

The industry also succeed to produce 633, 421 vehicles between January and November 2022, a 48 percent increase from the 427, 485 vehicles manufactured during the same time period in the previous year.

Due to car companies scrambling to fill numerous unfulfilled reservations as well as year-end promotions by some car makers, MAA predicted that sales in December 2022 would be higher than November.