PETALING JAYA: The Malaysian Automotive Association (MAA) expects vehicle sales in September to be maintained at August levels, despite being affected by the ongoing shortages of chips and components.
In a statement, MAA said vehicle sales for August grew by 36% to 66,614 units from 48,922 units in July, as automotive companies fulfilled bookings received prior to June 30, 2022, which are entitled for the sales tax exemption.
The sales tax exemption on passenger vehicles, 50% for imported vehicles and 100% for locally assembled cars, had ended on June 30, about two years since its introduction on June 15, 2020.
However, buyers who booked their vehicles during the tax holiday period have until March 31, 2023, to register their vehicles with the Road Transport Department to enjoy the tax exemption.
Total vehicle sales for August 2022 surged over 270% compared with the vehicle sales of 17,923 units in August 2021.
This is inline with the reopening of the economy, following the easing of restrictions.
According to MAA, in August 2022, sales of passenger vehicles increased to 59,769 units from 15,475 units in August 2021, while sales of commercial vehicles rose to 6,845 units from 2,448 units a year ago.
Year-to-date, total vehicle sales increased by 63% to 447,209 units from 274,600 units in the comparative period of last year, with passenger vehicles sales growing to 397,100 units from 244,623 units a year ago and commercial vehicles sales increased to 50,109 units from 29,977 units a year ago.
Meanwhile, total vehicle production for August 2022 surged almost 400% year-on-year (y-o-y) to 69,378 units, with 64,282 units being the production of passenger vehicles and the remaining 5,096 units being the production of commercial vehicles.
Year-to-date, production of vehicles increased over 70% y-o-y to 439,372 units compared with 258,024 units in the previous comparative period.
