New vehicle sales in Malaysia increased 53% to 67,659 units in September 2022 from 44,227 units a year earlier, according to the Malaysian Automotive Association (MAA).
Domestic vehicle manufacturers continued to fulfill back orders received before the end of June when the government ended the sales tax exemption put in place a year earlier to help the economy rebound from last year’s covid lockdowns. Buyers with orders confirmed before the end of June will be allowed to register their vehicles without incurring the sales tax, until 31 March 2023.
In the first draft of the 2023 state budget released earlier this month, the government announced import and excise duty exemptions for imported electric vehicles (EVs) would be extended another year, until the end of 2024. Companies wanting to import EVs before the end of 2023 would not be required to pay the approved permit fee.
EV charger networks continued to be rolled out across the country, with Starbucks the latest to announce it would install charging stations at its 76 drive through outlets supplied by Yinson GreenTech.
Total vehicle sales in the first nine months of 2022 rose 62% to 516,798 units from 318,827 with passenger vehicle sales up 62% at 457,160 units as commercial vehicle sales surged 66% to 59,638 units.
Vehicle production increased 51% to 69,389 units in September and 67% to 508,761 year-to-date.
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