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Stubborn Figures for Car Sales Show Market Still Struggling to Gain Traction

Car Sales Market

After a sluggish summer with the Enhanced Movement Control Order (EMCO) continuing to affect the industry, the latest figures from the Malaysian Automotive Association (MAA) show a weakened August and a decline in year-on-year sales compared to 2020.

Market Sees External Factors Bite

The market has seen a sizable slump in the year-on-year figures for August, with car sales reaching only 15,064 against 48,598 in August of the previous year. In a more balanced context, the 243,851 cars sold so far this year reflects a small drop from the 259,723 carssold by this time last year. 

Production has also dropped by nearly 75%, compared to August 2020. With figures of just 12,897 compared to August 2020’s healthier 47,913, the market is seeing the effect of numerous MCOs crippling the market. With the year-to-date sales, however, production is just a mere 4% lower, with 2021’s 239,065 against 2020’s 249,915.

Overall, the figures are still far more than last month, which in turn were a great improvement on July 2021’s figures. With showrooms able to operate in Selangor and Kuala Lumpur from 13 August, this leads to a rosier picture for the following month. The MAA predict that businesses in the automotive sector will be able to continue at a certain level, while car companies will make a continuing push to boost sale and generate revenue. The MAA, however, acknowledge that the shortage of car chips will no doubt continue to hurt the market.

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