Published on April 5th, 2022 | by Subhash Nair0
Perodua Posted 6.4% Year-on-Year Growth For Q1 2022 Growth
Perodua sees significantly more vehicles registered in Q1 2022 versus Q1 2021.
Last year was extremely tough for new car sales in Malaysia. Not only was there another major Movement Control Order that prevented showrooms and factories from opening, but there was a major supply shortage for chips. These problems led to Perodua missing their initial sales target for 2021. 2022 is shaping up to be a much better year for the local car manufacturer though.
They just posted their Q1 2022 results and it’s looking good. In the first 3 months of 2022, Perodua manages to register 61,624 vehicles, which is an increase of 6.4% versus last year’s Q1. Back then, the company only registered some 57,909 vehicles between January 2021 and March 2021.
Here’s the press release with more information.
Perodua posted a heathy growth in the first quarter of 2022 with 61,624 vehicles registered, marking an increase of 6.4% from 57,909 vehicles sold between January and March of 2021. Perodua President and Chief Executive Officer, Dato’ Zainal Abidin Ahmad said the impact of Covid-19 and component supply issues are still present, however, the auto company was able to work with its suppliers and dealers to lessen their impact.
“Our focus is now to expedite the vehicles delivery to our customers before the sales tax exemption deadline ends on 30 June 2022. “That being said, Perodua also echoes MAA’s (Malaysia Automotive Association) request to further extend the sales tax exemption as factors such as the global semiconductor supply disruption and Covid-19 cases are still impacting the industry,” he said.
Dato’ Zainal said that the automotive industry, including its local ecosystem thanks the government for the initiative (sales tax exemption) as it was able to keep demand high and sustain the industry throughout the worst of the pandemic.
“Right now, the local automotive ecosystem is starting to recover and an extension in the sales tax exemption is what the industry needs for sustained growth during this recovery period,” Dato’ Zainal said.
On a month-on-month comparison, Perodua registered 26,759 vehicles in March 2022, a 9.5% increase from 24,433 units sold in March 2021. While compared with February 2022, sales jumped 53.2% from 17,421 units registered a month before.
Perodua’s highest monthly sales achievement was recorded in October 2021 with 27,858 units registered.
“Moving forward, we foresee the second quarter of 2022 to be the highlight for the automotive industry as brands will deliver as many vehicles as they can within that three-month period.”
“While semiconductor chip supply and Covid-19 would still influence production, we expect that production and registration will continue to improve. We do not foresee other factors such as the conflict between Russia and Ukraine to have a major impact on Perodua’s production moving forward.”
“Based on these factors, we are maintaining our 247,000 sales target for this year,” Dato’ Zainal said.