The sales volume of new vehicle in November has increased 7.4 per cent due to sales tax exemption for passenger vehicles and new model launches.
MAA Expects Higher Vehicle Sales Volume in December
The Malaysian Automotive Association (MAA) said, sales volume of new vehicle in November 2020 has increased 7.4 per cent to 56,489 units from 52,584 units, compared to the similar corresponding month in 2019. This, according to MAA was mainly caused by sales tax exemption for passenger vehicles and new model launches during the period.
Of the total 56, 489 units registered, passenger vehicles accounted for 51,174 units.
Comparing with the 11-month period in last year, where the cumulative Total Industry Volume (TIV) was 549,439 units, the cumulative volume for this year was 454,708 units, dropped by 17.2 per cent. Year-to-date November, 2020, the total of passenger vehicle sold was 412, 174 units.
The production of new vehicles in November this year has increased 17.9 per cent to 54,832 units from 46,517 units last year. Of the total 54,832 units, passenger vehicles accounted for 50,894 units.
Comparing with the 11-month period in last year, where the cumulative production was 527,945 units, the cumulative production for this year was lower at 429,326 units, dropped by 18.7 per cent. Of this cumulative production of 429,326 units, 405,838 units were passenger vehicles.
MAA expected that the sales volume in December 2021 will be much higher than November 2020 level due to the continuation of the impetus from sales tax exemption incentive for passenger vehicles and on-going aggressive promotional campaigns by car companies.