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Malaysia's new vehicle sales shrank 24 per cent to 32,829 units in January from 42,942 units a year ago as traffic volume to showrooms dropped due to the Movement Control Order.
 
Month-on-month, total sales had plunged 51 per cent over December 2020 number, according to the Malaysian Automotive Association (MAA).
 
The MAA expects February sales to be lower than January due to short working month.
 
"Most customers had been brought forward in December 2020, resulting in lower stocks for january for some companies," the industry body said in its monthly sales and production data today.
 
The impact from shutdown of some part suppliers due to Covid-19 had resulted in short supply of components and parts for some companies, the MAA added.
 
Of the total new vehicles sold in January, 28,872 units were passenger vehicles (PV) while the remaining of 3,957 units were commercial vehicles (CV).
 
Total roduction of new vehicles in January declined 12.7 per cent to 39,666 units from 45,416 units produced in the same period a year ago.
 
Of the total, 36,186 units produced were PV and the remaining 3,480 units were CV.
 
The MAA recently projected that new vehicle sales would grow eight per cent to 570,000 units in 2021 from 529,434 units last year, on the back of the ongoing sales tax exemption.
 
The vehicle sales tax exemption, which was supposed to end on December 31, 2020, had been extended until June 30 this year.
 
The sales tax exemption percentage remains unchanged, with 100 per cent for locally-assembled cars and 50 per cent for fully-imported vehicles.
New Straits Times 2021-02-18 16:54:00