Malaysia – MAA: Vehicle sales down 36% m-o-m in January on chip shortage, shorter working month

KUALA LUMPUR (Feb 17): Vehicles sold in Malaysia fell 36% to 49,461 units in January 2023, from 76,657 units in December 2022, as the month had fewer working days due to the Chinese New Year festivities, while a shortage of chips and components continued to dog certain makes.

According to the Malaysian Automotive Association (MAA) in a statement on Friday (Feb 17), car sales, however, increased 19% from 41,533 units in January last year.

The MAA added that sales in February are expected to be better month-on-month (m-o-m), driven by a full working month and the fulfillment of bookings made during the sales tax exemption period.

According to the MAA, sales of passenger vehicles increased to 43,927 units in January 2023 from 34,570 units a year ago, while sales of commercial vehicles fell to 5,534 units from 6,963 units.

Meanwhile, total vehicle production was up 36.2% year-on-year at 58,527 units in January 2023, from 42,961 units previously.