Thailand
MAA: Malaysia’s vehicle sales slow down in Nov 2021 due to chip shortage, purchase deferrals
KUALA LUMPUR, Dec 17 — Malaysia recorded new vehicle sales of 58,742 units in November 2021, marking the first month-on-month contraction after four consecutive months of at least double-digit growth.
The total industry volume (TIV) fell 7.5 per cent from the 63,489 units sold in October 2021, the Malaysian Automotive Association (MAA) said.
“(This was because) a shortage of chips and some parts had affected production of certain makes. (In addition,) consumers may have deferred purchase of new vehicles since the sales tax exemption incentive has been extended till June 30, 2022,” it said in a statement today.
However, last month’s TIV was 1.9 per cent higher than the 57,622 units sold in the same month last year, the MAA said.
Sales of passenger vehicles grew slightly to 52,601 units versus 52,289 units in November 2020, while sales of commercial vehicles improved to 6,141 units compared to 5,333 units.
Year-to-date sales volume stood at 441,136 units, down four per cent from the 459,336 units achieved in the corresponding period in 2020.
On total production, the MAA said 58,079 units were produced in November 2021, a 5.9 per cent increase over 54,832 units in November 2020.
Of the total, 53,661 units were passenger vehicles (November 2020: 50,894 units) while 4,418 units were commercial vehicles (November 2020: 3,938 units).
For the first 11 months of this year, 396,530 passenger vehicles were produced compared with 405,838 units in the corresponding period in 2020, while 30,955 commercial vehicles were made versus 23,488 units previously.
“Sales in December 2021 are expected to be maintained at November 2021 level.
“Companies’ year-end promotional campaigns will spur sales,” the MAA said, adding that automotive firms may also ramp up deliveries of vehicles to fulfil backlog orders, especially for those with financial year ending December 2021. — Bernama