Malaysia’s new vehicle market continued to recover in November. Sales were up by 7.4% to 56,489 units from 52,584 units in the same month of last year, based on registration data released by the Malaysian Automotive Association (MAA). Malaysia’s continued recovery contrasts with weak sales in Indonesia.
The vehicle market is recovering from a 41% decline in the first half of the year, including a 55% drop in the second quarter after the government imposed a strict Movement Control Order (MCO) in March to help slow the spread of the COVID19 pandemic.
Buyers in recent months have also been taking advantage of the vehicle sales tax holiday introduced in June to help underpin the country’s automotive industry, which is due to expire at the end of the year.
New models, particularly from Proton, are also helping attract buyers while dealers have launched aggressive promotional campaigns and attractive finance packages following aggressive rate cuts by the central bank this year.
In the first eleven months of the year new vehicle sales were down by just over 17% at 454,708 units from 549,439 units in the same month of last year, including 412,174 passenger vehicles and 42,534 commercial vehicles.
Proton reported an 18% rise in global sales to 11,411 units in November, helped by strong local demand for the facelifted X70 SUV and the recent launch of the smaller X50 SUV.Its sales year-to-date were up by 7.5% at 96,410 units.
Malaysia’s second national car company Perodua reported a total of 23,119 sales last month and 195,000 units in the first eleven months of the year.