MAA: August 2022 TIV up by 62.8%

According to the Malaysian Automotive Association (MAA), the total industry volume (TIV) for the first eight months of 2022 stood at 447,209 units. Said total marked an increase of 62.8% - or 172,609 units – compared to the same time frame last year.

MAA also noted that a total of 66,614 vehicles were delivered to buyers last month. This represented a  36% - or 17,692 unit - rise from the 48,922 ehicles sold and delivered in July 2022.

MAA further said that the hikes in sales volume likely stems from car companies fulfilling many bookings received before the government’s sales tax exemption period that ended on June 30, 2022.

As stated by the government then, cars booked before said date and delivered before March 31, 2023 are exempted from the sales taxes levied – 50% for fully imported (CBU) vehicles and 100% for locally assembled (CKD) vehicles.

Compared to the figures recorded back in August 2021, August 2022 sales were up by a whopping 272% - or 48,691 units – from the former’s 48,691 units recorded. It also must be noted that the August 2021 sales were driven by the re-opening of showrooms as permitted by the government following the pandemic lockdown that preceded it.

Looking ahead, MAA anticipates that car sales figures in September will remain at a similar level as what it saw in August this year. The association further adds that chip and component shortages will continue to affect some manufacturers.