Malaysian Passenger Vehicles Production and Sales Figures Increase in October Giving Hope 2021 Could Surpass 2020 Levels
With 61,248 passenger vehicles recorded in October 2021, this is only the second time that production has reached 60,000 vehicles so far this year. However, despite the longer October hours, both production and sales figures for the year-to-date are trailing 2020 levels, in figures released by the Malaysian Automotive Association (MAA).
Malaysian Market Still Struggling to Reach Full Momentum
Starting with sales for passenger vehicles, October 2021 was stronger than this time last year, with a total of 56,881 vehicles registered, against 52,806 in October 2020. This momentum is helping 2021, although the drop in passenger figure sales for the year-to-date is starker compared to the year before. In 2020, 365,233 vehicles were registered by October 2020, whereas for this year 339,873 sales have been recorded. The figures indicate that, based on October 2021's statistics, 2021 will not equal or best 2020’s yearly total.
Production figures reached 61,248 in October, only the second time this year that figures reached only 60,000, which happened in March. This bested October 2020 when only 55,063 were registered, registering an 11% jump. Production has ramped up to fulfil backlogged orders at the right time. If November and December achieve the same increased levels that were seen in October, 2021 should equal 2020. By October 2020, there were 354,944 passenger vehicles produced. So far this year, there’s only a minor drop with 342,969 vehicles produced this year-to-date.
The MAA sees November as being able to maintain October’s level, with companies preparing major promotional campaigns to end the year with the best possible coverage.