KUALA LUMPUR, Aug 19(ABC): Malaysia’s vehicle sales slipped 23.03 percent to 48,922 units in July from 63,563 units in June, the Malaysian Automotive Association (MAA) said.
MAA said in a statement the fall was due to exceptionally high total industry volume (TIV) in June because of the fulfillment of bookings by car companies, for many of the bookings were received prior to June 30, which was the last day of sales tax exemption incentive period.
Meanwhile, the shortage of chips and components continued to affect some makes. On a year-on-year basis, Malaysia’s vehicle sales jumped more than six times from 7,499 units in July of 2021. Year to date, Malaysia’s vehicle sales rose 48.28 percent to 380,595 units from 256,677 units a year ago.
Malaysia’s vehicle production, on the other hand, soared close to 19 folds to 52,061 units in July from 2,775 units a year ago. Year to date, total vehicle production in the country rose 51.6 percent to 369,994 units from 244,063 units a year earlier. MAA expects sales in August to be maintained at the July level.