Malaysia’s Vehicle Sales Plummet In April 2023

  • Car sales fall 41% in April in Malaysia from 78,000 to 46,000
  • Despite the downturn in April, the sales volume from January to April 2023 surpassed that of the same period in 2022
  • The MAA anticipates a rebound in May, citing the resolution of supply chain issues and a longer work month

Sales of vehicles in Malaysia dropped 41% in April 2023 compared to the previous month, stated the Malaysian Automotive Association (MAA). The number of vehicles delivered to customers plunged from 78,849 in March to 46,583 in April.

Various factors contributed to the decrease, including a shorter work month due to the Hari Raya holiday period and the conclusion of the sales tax exemption scheme, which had been in effect from June 2020 through March 2023.

Despite the downturn in April, the sales volume from January to April 2023 surpassed that of the same period in 2022, a particularly sparse time for the local industry. In the first four months of 2023, 239,183 vehicles were sold, exceeding the 217,452 units sold during the same period the previous year.

Vehicles driving sales growth include the twelve biggest-selling cars mentioned below. As expected, Toyota ranks highly in the top twelve with models like the Fortuner, Rush, Vios and Harrier generating strong growth while local manufacturer Perodua boasts 4 models including the Myvi, Ativa, Bezza and Alza in the top twelve. Other marques to rank highly include the Mazda CX-5, Proton X90, Ford Ranger, with the most popular luxury car being the RM1 million Lamborghini Urus SUV.

The MAA anticipates a rebound in May 2023, citing the resolution of supply chain issues and a longer work month.

OUR THOUGHTS

The drop in vehicle sales in April is a hurdle for the Malaysian automotive sector, which is still grappling with recovery from the COVID-19 pandemic. Industry insiders expect that the resolution of supply chain issues and a longer work month in May will stimulate sales in the upcoming months with Toyota and Perodua leading the way.

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