July 2023 Malaysian vehicle sales up by 1.7% – MAA

The Malaysian Automotive Association (MAA) has revealed vehicle sales data for the month of July 2023, which saw a total of 63,676 units delivered to customers. This represents an increase of around 1.7% from the 62,593 units sold in June 2023.

The July 2023 sales total is also 27.5% higher when compared to the same month in 2022 that saw 49,934 deliveries. According to the association, the encouraging results are a result of improved supply chains as well as fulfilment of bookings for new model launches recently.

Meanwhile, the total industry volume (TIV) as of the end of July 2023 is 429,807 units, which is 12.6% higher than the same period in 2022. At a press briefing last month, the association revised its full year 2023 TIV forecast from 650,000 units to 725,000 units.

For the month of August 2023, expected to be slightly higher than July 2023 due to new model launches and promotional campaigns by car companies in conjunction with the Merdeka Day celebrations.

On the production side, July 2023 saw 66,862 vehicles produced, which is a 28% year-on-year increase from July 2022. The YTD production figure currently stands at 429,397 units, 16% higher than the corresponding period last year.