Vehicle sales rise 28% year-on-year in July
Total vehicle sales rose 28% to 63,676 units in July from 49,934 units last year, due to normalisation of the automotive supply chains and fulfilment of bookings received for new model launches recently. In a statement, the Malaysian Automotive Association (MAA) said total industry volume (TIV) for July 2023 was 1.7% higher than June 2023 (which was at 62,593 units), as vehicle sales continued with upward momentum. Of the number of vehicles sold last month, 57,939 consisted of passenger cars while 5,737 units consisted of commercial vehicles. Comparatively, a total of 44,574 passenger cars and 5,360 commercial vehicles were sold in the same month last year. Year-to-date July, total vehicle sales rose to 429,807 units from 381,680 units in the previous corresponding period. Separately, the MAA said total industry production recorded in July 2023 stood at 66,862 units, which was much higher compared with 58,051 units in June 2023. On the outlook for August, the MAA said vehicle sales are expected to be slightly higher than July 2023's level.