Malaysia’s vehicle sales in September increased by 26.37pc to 56,444 units from 44,666 units last year due to various promotional activities by the carmakers and higher output, according to the Malaysian Automotive Association (MAA).
Outlook
The MAA is expecting auto sales to decline in October due to the implementation of the conditional movement control order (CMCO) in Sabah, Labuan, Selangor, Kuala Lumpur, and Putrajaya regions, and also as the ‘consumers are being cautious about the ending of the loan moratorium on Sep 30. The association has forecasted annual auto sales at 470,000 units, which is significantly lower than the initial projection of 607,000 units in January. However, it is still higher than its April projection of 400,000 units.
The September sales also grew by 7pc from 52,800 units in August. MAA said that the sales were the second-highest monthly figures in the year so far. Passenger vehicle sales in September stood at 51,422 units, while commercial vehicle sales stood at 4,399 units.
In the Jan-Sep period, total auto sales fell by 22.91pc at 341,489 units from the prior-year period.
Auto production
Malaysia’s total auto production in September rose by 15.26pc to 51,987 units from the year prior. In the Jan-Sep period, the country’s total vehicle production fell by 25.79pc to 315,863 units from the prior-year period.