The Malaysian Automotive Association (MAA) has released vehicle sales data for the month of October 2021, announcing that a total of 63,489 new vehicles were delivered last month. This is an increase of 19,214 units from the 44,275 units managed in September, representing a 43.4% gain in volume.
It’s only the second time the monthly total industry volume (TIV) has exceeded the 60,000-unit mark this year, the other being March, which saw 64,875 units (originally reported as 63,878 units) being achieved. The association attributed the increase last month to a full and longer month of business operations nationwide, with companies ramping up production and deliveries of vehicles to fulfil backlog orders.
In year-on-year terms, last month’s total was 5,794 units (10%) more than that achieved in October 2020, when 57,695 units were shifted. As for year-to-date numbers, the TIV for 2021 is still behind that of 2020, but it’s closing fast. With 10 months gone, it stands at 382,379 units, which is 19,335 units (or 4.8%) behind that of the 401,714 units from the same period last year.
The MAA is projecting sales in November to be maintained at the same level as that for October, as car companies push year-end promotional campaigns to spur sales. Buyers are also expected to continue taking advantage of the SST exemption, which has again been extended to June next year.
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Rakyat continue to have even more confidence in how things being run now. Syabas Malaysia!
According to a recent survey by Ipsos, more Malaysians are more worried about the dire state of their finances & the level of political corruption in the country, than being worried about catching Covid-19. In addition, only one third of Malaysians are now comfortable about making major purchases of property or vehicles.
Encourage unwise consumer to buy by impulse, uptrend of defaulting hire-purchase loan, higher frequency of car-repossession and auction by financial institution. Conclusion bankers get fat bonus every financial year end
According to Paultan monthly survey, most rakyat dont give a flying fook and keep on buying new cars
https://paultan.org/2021/11/19/october-2021-malaysian-vehicle-sales-up-by-43/
Yes, it’s true. People don’t give me anything when they buy new cars.
If the remaining two thirds of Malaysians are also comfortable with making major purchases of new cars, the monthly increase would have been at least 67.9%.
The 67.9% already got their new cars
Since when you work for our statistics dept?
Plain BS,you r right.
Some people are buying “blind”.,ie..the moment the bank approves the 9 year hp loan..they jump in.
108 months is a long time.They say if laid off,let bank tarik keta je.
Is it that simple? They will be in CTOS,CCRIS blacklist for a longtime.Credit cards will be affected,they are most likely be given cash terms later.
We have a new generation of youngsters who have only plan A..if cannot pay,tarik je..or go for bankruptcy.And with them having less than 10K in KWSP,dont expect the gomen to keep feeding handouts.