The latest figures from the Malaysian Automotive Association (MAA) show a comfortable year-on-year increase in production during February, with the respective sales just surpassing February 2021 levels.
Malaysian Market Improving on Production and Sales Compared to 2021 Levels
With a strong showing in February, there were 47,445 passenger vehicles produced in February 2022, which is 15% above February 2021’s 41,301 units. For the year-to-date so far, this amounts to 86,900 units over 77,487 for 2021, making for a 12% increase.
Sales for passenger vehicles also improved on last February, with 38,823 units against 38,554 sales for February 2021. For the year-to-date total so far, there were 72,491 units sold for the first two months of this year, against 67,971 units for 2021, making for a 7% increase.
The MAA explains that auto companies have been ramping up production for backlogged orders, which explains in part how this year is outperforming the prior year. For March, sales are expected to increase in line with the end of the financial year, as well as March being a longer month than February.
