Vehicle sales up 7% in November 2022 - MAA

KUALA LUMPUR: Malaysia’s new vehicle sales rebounded in November 2022, rising seven per cent year-on-year to 64,404 units after recording a six per cent drop in October.

The Malaysian Automotive Association (MAA) said total vehicle sales for the first 11 months of this year stood at 642,306 units, up 45 per cent from 443,636 units in the corresponding period of 2021.

In a statement today, the association said the November 2022 sales were six per cent higher compared with the 61,002 vehicles sold in the immediate preceding month.

"Car companies continued to fulfil many of the bookings received prior to June 30, 2022 (the deadline for passenger vehicle sales tax exemption),” it said.

MAA projected that sales for December 2022 would be higher than in November due to car companies rushing to fulfil many outstanding bookings as well as year-end promotions by certain makes.

Meanwhile, vehicle production in the country grew 13 per cent in November 2022 to 65,669 units compared with 58,079 units a year earlier.

In the January-November 2022 period, the industry produced 633,421 vehicles, an increase of 48 per cent from 427,485 vehicles in the same period last year. - Bernama