Malaysia’s auto output in November stood at 54,832 units, up by 17.9pc from 46,517 units in the prior year, according to media reports citing data by the Malaysian Automotive Association (MAA).
In the first eleven months of the year (Jan-Nov, 2020), the country’s vehicle production fell by 18.7pc to 429,326 units from 527,945 units in the prior-year period. The impact and restrictions due to the COVID-19 pandemic disrupted automobile production in Malaysia.
Sales
Malaysia’s total auto sales in November rose by 7.4pc to 56,489 units from 52,582 units in the preceding year driven by the ongoing tax exemption scheme for passenger vehicles, however, fell by 0.3pc as compared to 56,670 units in October.
In June, the Malaysian government implemented the short-term National Economic Recovery Plan or ‘Penjana,’ which offered vehicle buyers a 100pc sales tax exemption on locally-assembled vehicles and a 50pc sales tax exemption on imported. MAA said that new model launches also contributed to the growth in vehicle sales in November.
Passenger vehicle and commercial vehicle sales in November stood at 51,174 units and 5,315 units, respectively.
In the Jan-Nov period, auto sales declined by 17.24pc to 549,439 units from the same period in the previous year.
Outlook
MAA said December auto sales are expected to be higher than November driven by the ongoing promotional campaigns by car companies and the tax exemption. It noted that the Malaysian auto sector is likely to achieve FY2020 sales forecast of 470,000 units.
The association has revised its total vehicle sales forecast for the year to 470,000 units from 607,000 units announced in January due to the negative effects of the COVID-19 pandemic.