MAA adjusts 2021 car sales forecast, trimmed down by 12% to 500k units

The Malaysian Automotive Association (MAA) has revised its forecast for the total industry volume (TIV) in 2021 to 500,000 units from 570,000 units earlier this year, which represents a drop of around 12%. For context, the TIV for 2020 was 529,424 units.

This is due the nationwide lockdown from 1-June and since the automotive sector was not listed as an essential economic activity, automotive production facilities and showrooms are not allowed to operate.

Currently, only vehicle workshops and auto parts shops are allowed to operate in Phase 1 and 2 of the National Recovery Plan.

In June 2021, there was a 96% drop in vehicle sales compared to the month before in May, with a reported figure of just 1,921 units.

Also read: Nearly 0 new cars are reportedly sold in Malaysia in June 2021

“MAA has decided to revise our forecast for the TIV 2021 after considering many factors especially concerning an assumption on the government’s directive that automotive plants, distribution centres and sales showrooms would not be allowed to operate during Phase 1 and 2 and will only re-open in Phase 3 of the National Recovery Plan (NRP),” said Datuk Aishah Ahmad, President of MAA, at a virtual press conference today.

It was also added that the 500,000-unit forecast is based on the assumption that the automotive sector will be up and running by August. Should the situation change, the forecast will have to be amended again.

Also read: 

MAA: Allow automotive sector to resume operations to prevent greater economic loss

2020's new car sales (TIV) in Malaysia is lowest in 13 years, 529,424 units