June 2022 Malaysian vehicle sales up by 25.15% – SST exemption continued to drive increase in deliveries

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The Malaysian Automotive Association (MAA) has released the vehicle sales data for the month of June 2022, stating that a total of 63,366 new vehicles were delivered to buyers last month. This is an increase of 12,732 units from the 50,634 vehicles (originally reported as 49,603 units) sold in May, or a 25.15% jump in performance.

According to the association, the improvement in sales last month was attributed to the impetus from the sales tax exemption, which continued to attract buyers until it came to an end on June 30 as scheduled.

Compared to the same month in 2021, sales in May 2022 was a phenomenal 3,190% (or 61,440 units) higher than the 1,926 units (originally reported as 1,921 units) from the same period last year. The massive difference is not a surprise, given the closure of all car showrooms when the country went into lockdown on June 1 last year during phase one of the National Recovery Plan (NRP).

Meanwhile, the year-to-date total for the first half of 2022 stood at 331,386 units, ahead by 33% (or 82,208 units) over the 249,178 units managed during the first six months of last year.

The association projected sales in July to be similar to June levels, with car companies continuing to fulfil orders made during the sales tax exemption period, and this will likely be the case until March next year, given the government’s decision to allow the SST exemption to be applied for any vehicle booked by June 30 and registered before March 31, 2023. The association however added that the shortage of chips and components would continue to have an impact on deliveries.

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