The Malaysian Automotive Association (MAA) says it is optimistic that the local automotive market will rebound in 2021, and has confidently forecast that the total industry volume (TIV) will grow by nearly 8% from 2020, in which 529,434 units were shifted.
Buoyed by the industry’s performance in the second half of 2020, where strong demand and sales ensured that the final TIV surpassed the 470,000-unit forecast made earlier in the year, the association is projecting a TIV of 570,000 units for 2021. Passenger vehicles are expected to deliver 513,000 units out of the total.
In delivering the bullish forecast, it said that a number of economic and environmental factors were taken into account, among them the continuation of the sales tax (SST) exemption for passenger vehicles under the Penjana stimulus package, which was supposed to have ended on December 31 last year but has been extended until June 30.
This, along with continued promotional campaigns by car companies to push sales and to maintain market share as well as lower hire purchase loan interest rates, will help sustain buying interest, the association added.
The MAA also offered a forecast of the TIV going into 2025. It said that by 2022, it anticipates that the yearly volume will return to that of 2019, in which 604,281 units were sold (the latter figure is slightly revised from the 604,287 units reported at the start of last year).
In 2023, this will climb to 622,300 units, and the roughly 3% growth is projected to continue in 2024, with 641,600 units being the TIV forecast for that year. By 2025, this is expected jump to 662,100 units, effectively bringing the TIV back to the level last seen in 2014 and 2015.
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MAA main tikam nombor lagi. kalau tikam nombor salah, sempat U-turn.. roundabout pon depan jek.
Many have full confidence in how things are being run. Well done!
The rakyat is complaining on twitter, reddit, lowyat, even FB.
Betuii ke ni. Menteri-menteri pegi main beskal and mandi air tepi pantai rilek je
Copy paste: “Who says rakyat miskin and menderita? Car sales figure jumped up.”
Copy paste: “Malaysia economy terhebat and steady. Other countries see downtrend of car sales…..but Malaysia see rise of car sales. Record breaking! Rakyat surely rich.”
Raykat i dunno, but menteri2 surely rich wey!!
No wey for 222 mentris to buy 530,000 cars wey! Defo must have lotsa rich rakyat buying them!
MAA dont you realise our numbers stagnant for 10 years. malaysia suppose to achieve 750k a year now.
what is happening?
we are stuck with middle income trap.
MAA why do they care? As long kalkulator & %%
Do they take condiseration:
1. Sudden MCO
2. On and off car manufacturing operation by MITI
3. WFH
4. PDPDR
5. Shortage of chips
6. Parts factory close due to Covid at workplace