MAA Adjusts TIV 2022 Forecast Upwards To 630,000 from 600,000 Vehicles

The Malaysian Automotive Association (MAA) revises the Total Industry Volume (TIV) forecast for 2022 upwards from 600,000 to 630,000 vehicles due to a strong showing in the first half of 2022. 

With the first half of 2022 behind us, the Malaysian Automotive Association has been tallying the numbers for vehicle sales (new registrations) that occurred over the past 6 months. It’s good news, too, with 331,386 units.

That’s an increase of 82,208 units (or 33%) over where we were at this point in 2021, which the MAA attributes to “the pent-up demand for new vehicles in the first half of 2022 and also partially due to low base effect i.e., low TIV for 1H2021 as a result of the implementation of Full Movement Control Order or FMCO in June 2021.”

It was commercial vehicles that exhibited the most improvement with 49% more registrations between January to June 2022 over that same period last year. Passenger vehicles, meanwhile, showed a respectable jump of 31% with all 6 months showing consistently improved Year-on-Year numbers with the exception of March.

This, according to a statement released today, reads: “The rush for deliveries by MAA members having their financial year ending on 31 March 2022 and a longer working month could have contributed towards this achievement.”

Vehicles registered in June 2022 exceeded the 60,000 units mark (63,366) but could have been higher if not for the shortages of semiconductors and other components in the supply chain that impacted many automakers.

“For the automotive industry, despite not having the PEMERKASA Plus plan for car buyers to enjoy sales tax exemption extended beyond 30 June 2022, MAA members are happy and pleased that the authorities have allowed buyers with confirmed booking to register their vehicles by 31 March 2023,” said YBhg. Datuk Aishah Ahmad, MAA President.

This measure is indeed a positive one as it will help the automotive industry to fulfil backlogged orders while at the same time allowing the rakyat to enjoy lower price cars,” she added.