Vehicle sales continues recovery as October 2021 numbers jump by 143%

Nature is healing, the mamak shops are mixing water with the handwash again and vehicle sales are climbing massively. The latest numbers by the Malaysian Automotive Association (MAA) place October 2021 sales at 63,489 units; marking a 143 percent bump up over the previous month’s figures of 44,227 units.

It goes without saying that business operations now almost at full capacity is the primary reason behind the surge that’s beginning to resemble pre-pandemic numbers.

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Nonetheless, the year to-date (YTD) sales volume for October 2021 (382,379 units) is 4.8 percent lower as compared to the YTD numbers for October 2020 at (401,714 units). However, given that this deficit was 7 percent for the YTD September numbers, it’s a promising sign that the industry is headed towards normalcy.

Production figures meanwhile have been on the climb with 65,410 units punched out in October 2021, a promising 11.6 per cent climb over the 58,631 units from October 2020. From a large picture point of view though, 2021 is still lagging behind as the YTD production numbers stands at 369,406 units up to October 2021 over the corresponding 374,494 units up to October 2020; marking a 1.36 percent drop.

However, the MAA’s optimistic estimation that sales in October 2021 will climb over the corresponding period has proven to be accurate; hinting that the total industry volume (TIV) is still very much on target and hints towards sales continuously climbing as delayed models are introduced prior to the end of the year.