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New Car Sales Up 42 Per Cent in 2022
MAA forecasts that total industry volume (TIV) will decline by 9.8 per cent in 2023 after surpassing the 700,000 mark in 2022.
Full Year Car Production Up 46 Per Cent
The Malaysian Automotive Association(MAA) has announced that total car sales volume in December 2022 amounted to 76,757 units, as compared to 65,247 units in December 2021, an increase of 17.5 per cent.
Passenger vehicle sales were up 19.6 per cent from 57,603 units in 2021 to 68,889 units. YTD sales volume in December 2022 was 42 per cent higher than the corresponding period in 2021, with a record high of 720,658 units. Passenger vehicle sales for the year were up 42 per cent to 641,773 units.
Meanwhile, total car production was up 27 per cent to 68,881 units from 54,166 units in the same period of 2022. Full year production increased 46 per cent, from 481,651 units in 2021 to 702, 275 units this year.
MAA forecasts that total industry volume (TIV) will decline by 9.8 per cent in 2023 after surpassing the 700,000 mark in 2022. Sales in January 2023 are expected to be lower than December 2022 due to the short working month because of the Chinese New Year festive holidays. A shortage of chips and components will continue to affect certain makes.