The Malaysian Automotive Association (MAA) has released vehicle sales data for the month of March 2023, announcing that a total of 78,849 vehicles were delivered to buyers last month. This is 15,339 units more than the 63,510 units managed in February, representing a 24.15% increase in volume over the previous month.
The total also made March 2023 the best-ever month in terms of monthly TIV, surpassing the all-time high monthly TIV of 76,657 units that was managed in December.
The association said that the jump in numbers was largely due to companies rushing to fulfil bookings made during the sales exemption period, which ended at the end of March. Contributing to that swell was the rush of deliveries by companies having their financial year ending on March 31.
Compared to the same month in 2022, March’s total was 7.64% (or 5,599 units) higher than the 73,250 units achieved last year, and the TIV for the first three months of 2023 now stands at 192,474 units, ahead by 32,628 units (or 20.4%) compared to the 159,846 units managed during the same period last year.
The association projects that sales in April will be lower that March as a result of a shorter working month due to the Hari Raya festive holidays.
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Hopefully,there is no rush by car repossessors in few months time.The quality of loans will be evident by then.