Malaysia vehicle sales in October 2022 dropped 10% compared to September

According to the Malaysian Automotive Association (MAA), a total of 61,002 vehicles were sold in October 2022 which was 10% lower than a month before. By comparison, September saw 67,698 vehicles sold in Malaysia.

The reason for the sales drop was due to the fulfilment of backlog bookings that were received by carmakers prior to 30-June 2022 according to MAA.

Despite the sales slump, the year-to-date (YED) sales volume for October 2022 was 50% higher than the same corresponding period in 2021. Based on the data, a total of 577,902 vehicles were sold up to October 2022 while 382,589 units were sold in the first ten months of 2021.

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The total production of vehicles up to October 2022 also rose from 369,406 vehicles in 2021 to 567,752 vehicles this year.

MAA expects sales in November 2022 to be maintained at the same level as the month before while the ongoing chips and components shortage would continue to affect certain makes but at a much smaller scale.

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