Published on September 21st, 2021 | by Subhash Nair0
Malaysian Automotive Industry Recovering, Here Are The Numbers
MAA reveals the sales and production numbers for the automotive industry in August 2021.
The Malaysian Automotive Association has revealed the production and sales numbers for passenger and commercial vehicles in Malaysia for August 2021. On the one hand, there’s a lot of good news.
In July 2021, things were at their worst point. The country had been under complete lockdown for an extended period of time. Production numbers for vehicles in Malaysia had dropped down to less than 3,000 units nationwide and sales were at just over 7,000 units. It was a complete disaster.
By mid-August 2021, most of the automotive industry was allowed to reopen under the National Recovery Plan 2021 in key states. This included showrooms as well as factories. As a result, August saw a spike in production and sales numbers over July. Sales were up by 147% in August versus July 2021. We’re talking 17,500 sales in August 2021 versus just 7,086 sales in July 2021. As for production numbers, it was 13,961 in August versus 2,775 units in July 2021.
Another piece of good news is that sales and production numbers are expected to rise in September 2021 as the industry gets its first full month of sales and production in key states. Some makes and models are expected to face continual chip shortages and be unable to deliver vehicles on time. However, there’s expected to be an improvement overall.
The bad news? Well, compared to this time last year, sales and production numbers are still really low, and the year-to-date numbers are still falling far behind.
Take a look at them for yourself.
- Market Performance in August 2021
YTD Sales volume for August 2021 was 4.4% lower than similar corresponding period year 2020.
Total Industry Volume (TIV) for August 2021 was 147% higher than July 2021 (which was at 7,086 units only)
● Showrooms in many states including key states like Selangor and WP Kuala Lumpur were allowed
to operate since 13 August 2021.
- Outlook for September 2021
Sales in September 2021 will be higher than August 2021 level
● Businesses for most industries including automotive sector had resumed albeit at certain levels
● Continuous on-going efforts by car companies to boost sales in order to generate revenue.
● Shortage of chips may affect certain makes