September Commercial Vehicle Production and Sales Figures Shows a Rejuvenated Market
With disappointing August figures, September’s results show a healthy production recovery and a pleasing increase in sales, in figures released by the Malaysian Automotive Association (MAA).
Malaysia Starts to Rev-up Production as Potential End to MCO Arrives
With Malaysia’s Movement Control Order (MCO) currently lasting until 31st December 2021, the market is pushing on with the external factors plaguing the market. With the relaxation of the movement restrictions across the country, the industry is started to boom again, although the shortage in chips is still affecting certain makes and causing some cancellation of orders. With 3,416 commercial vehicles produced, this is a healthy 69% increase on 2020’s 2,021. For the year-to-date figures, the market is now going from strength to strength with 22,375 commercial vehicles produced this year-to-date, this is a 40% increase on last year’s 15,982.
The sales figures are more conservative but still, show progress. In September, 5,960 vehicles were sold, against 5,054 the year before, representing an 18%. Closely aligned, this figure is fairly representative of the year-to-date figures, with a 14% increase on 2020, or 35,882 against 31,592.
The forecast from the MAA for October is rosy, as well. With restored business operations and ramped-up production and vehicle deliveries expecting to help 2021 continue to build on the drop in production and sales figures caused by the pandemic in 2020.