Published on March 18th, 2022 | by Subhash Nair0
Sales And Production For February 2022 Was Much Better Than Anticipated
MAA anticipated a slump in the auto industry for February 2022, but the numbers prove otherwise.
Despite how short February is, car brands in Malaysia managed to make and sell more cars last month than they did in January 2022. When that month ended, the Malaysian Automotive Association (MAA) predicted that the industry would only produce and sell about 40,000 vehicles in February 2022. However, the numbers are now out and it’s clear that things were a lot better than predicted, despite supply shortages and the shorter month overall.
Not only was it a better month for the auto industry versus January 2022, (up by 8%) but the numbers were also 10% higher compared to February 2021. According to the MAA, this improvement in performance can be chalked up to the auto companies ramping up production to fulfil backlog orders. I guess the supply shortage comes and goes.
Perhaps the ongoing Chinese New Year sales promos also helped to get more sales going in February 2022. February 2022 also saw the launch of the facelifted Honda Odyssey, the new Mercedes-Benz C-Class, the facelifted BMW X4, the facelifted BMW X3, the new Volkswagen Golf, Golf GTI and Golf R.
All that being said, the MAA predicts that March 2022 will be an even better month for car sales. Car companies with their financial year ending on the 31st of March 2021 will be pushing harder than ever before. The MAA also says the longer working month will also contribute to more sales than February 2022 even though that logic didn’t apply the last time around.
Here’s the press release with more information.
- Market Performance in February 2022
YTD Sales volume for February 2022 was 10% higher than similar corresponding period year 2021.
Total Industry Volume (TIV) for February 2022 was 8% higher than January 2022 (which was at 40,581 units)
● Auto companies ramped up production to fulfill backlog orders
- Outlook for March 2022
Sales in March 2022 is expected to be higher than February 2022.
● Push for higher sales by companies having their financial year ending on 31 March 2021
● longer working month