Amidst the chip crunch that’s taking a toll on the automotive industry, sales of new vehicles in Malaysia in April 2022 have dipped 23 percent compared to March.
According to sales data by the Malaysian Automotive Association, the Total Industry Volume (TIV) for April 2022 stood at 56,213 units, 23 percent less than March, which was at 73,222 units.
For most car companies, much of their sales had been fulfilled with their financial year ending on 31-March 2022.
Also Read: MAA: 600k cars sales target for 2022, back to pre-Covid days?
But it’s not all doom and gloom, as year-to-date (YTD) sales figures have witnessed an increase compared to 2021. YTD sales in April stood at 215,965 units, higher than the same period in 2021, which was 200,043 units or 7.6 percent higher.
The MAA expects sales in May 2022 to be similar to April levels, as it’s a shorter working month due to festive holidays. The ongoing chip crunch and shipment delays will continue to wreak havoc on some companies.
Earlier, MAA has appealed to the government to extend the vehicle sales tax exemption in hopes to boost up car sales, as well as to give car manufacturers sufficient time to clear their backlog of orders.
Also Read: MAA: Please extend SST exemption to end-2022, give time to manufacturers to clear backlog