Continuing the economic recovery, the Malaysian Automotive Association (MAA) has released healthier car sales figures for March 2021.
Sales Soar by 198% Between March 2020-2021
The latest figures from the MAA are demonstrating increasing optimism, with sales almost tripling in March 2021, with 56,478 against 18,974 from the year before. The market has also improved substantially from last month, with a 49% increase in all sales of passenger and commercial vehicles. Comparing the year-to-date sales for March 2021, sales have risen from 95,743 to 123,281, making for an impressive 29% rise from the year before,
The MAA has explained the reasons for the promising figures, with a rush for deliveries, as companies frequently buy vehicles before the end of the financial year, as well as a range of new model launches. The figures are substantially higher this year when compared to last year because last March when Malaysia was in the midst of the first MCO (Movement Control Order.)
Production has also improved with a noticeable leap from 21,087 to 58,102 in March this year, which equals a 176% expansion, as well as a year to date difference of 101,507 vehicles in 2020, increasing to 135,589 in 2021, making for a soaring 34% change from March the year before.
The MAA predict that April 2021 will maintain March 2021 levels, with the added incentive of an ongoing promotional campaign by car companies to retain trust in the recovering industry.