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The commercial vehicle sales volume has a twofold increase, rising from 2,156 units last July to 5,328 vehicles in 2022.
Based on the vehicle sales report released by the Malaysian Automotive Association (MAA) for the month of July 2022, the commercial vehicle sales volume has a twofold increase, rising from 2,156 units last July to 5,328 vehicles in 2022.
Compared to 2021, vehicle sales increased to 380,595 from 256,677 which represents a 48.3 per cent increase.
MAA explained that the exceptionally high TIV in July 2022 was because of fulfilment of bookings by car companies as a high proportion of the bookings were received prior to 30 June 2022, which was the last day for the sales tax exemption incentive period. It added that shortage of chips and components continues to affect some brands.
The total number of vehicles produced in July was 52,061 units against 2,755 units in 2021. Total vehicle production for 2022 has increased from 244,063 units last year to 369,994 units.
Looking at the production figures for commercial vehicles in July 2022, it stood at 4,059 units in comparison to 379 units in 2021. Addedly, the year-to-date production after seven months stands at 27,529 units, which represents an increase of 56 per cent over the 17,895 units in 2021.
Sales in August 2022 are expected to be remain at July 2022’s level.
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