The Malaysian Automotive Assoiciation (MAA) has released vehicle sales data for the month of August 2022, announcing that 66,614 vehicles were delivered to buyers last month. This is an increase of 17,692 units from the 48,922 vehicles sold in July 2022, or an increase of 36% in sales volume.
The gain in sales volume was due to car companies fulfilling many bookings received before June 30, 2022 when the sales tax exemption ended, according to the association. This followed the drop in volume sustained in July, which was attributed to the shortage of semiconductor chips and components.
Compared to the same month in 2021, volume in August 2022 was 272% (or 48,691 units) higher than the 17,923 units achieved last year, even considering gains made from the re-opening of showrooms which were permitted to resume operations mid-August 2021.
Year-to-date total industry volume for the first eight months of 2022 comes to 447,209 units, which is up 62.8% (172,609 units) over the 274,600 units sold across the same period last year.
Car companies will continue to trying fulfilling backlogged vehicle orders made during the sales exemption period, and the government’s decision to allow the SST exemption to be applicable to vehicles booked by June 30 and registered before March 31 next year, the current trend of sales volume is expected to hold until the end of this year.