The Malaysian Automobile Association (MAA) has released its vehicle sales data for February 2022, and it looks like the auto industry has had a good month, on the momentum it has maintained in the run-up to the Lunar New Year. A total of 43,722 vehicles left dealerships, 7.7% higher than the 40,581 vehicles sold in January.
According to MAA, this increase is attributed to car companies ramping up production to meet backlogs of orders. Combined with relatively strong January sales, that’s up 9.7% (7,463 units) year-over-year in 2021 to 84,303 vehicles – even though February sales only improved by 274 units. compare to last year’s numbers.
March revenue is forecast to still be higher due to the longer working month. Auto companies will also push for higher sales to hit targets for the financial year ending March 31.
