Malaysia’s Vehicle Sales Fell 11.76% in May Due to Chip Shortage: Report
Kuala Lumpur: Malaysia’s total vehicle sales fell 11.76 percent from April to 49,603 in May due to a shortage of chips and components, according to the Malaysian Automotive Association (MAA). The shortage of chips and components and logistics delay disruptions continue to affect some makes, the MAA said on Monday in a statement. Kia India Records 69% Rise in Sales With 18,718 Units in May 2022.
It also attributed the fall to a shorter working month due to the Hari Raya festival, Xinhua news agency reported. On a year-on-year basis, total vehicle sales in May rose 5.08 per cent, while that in the January-May period increased by 7.44 percent. Meanwhile, total vehicle production in May climbed 15.56 per cent year-on-year, and that in the January-May period went up 7.07 per cent.
The MAA expects sales in June to be stronger, driven by impetus from sales tax exemption incentive for consumers to buy passenger vehicles (which is due to expire by the end of June 2022) and an aggressive push for sales by car companies. However, it said that the shortage of chips and components and supply chain disruptions will continue to affect some makes.
(The above story first appeared on Scoop Buddy on Jun 21, 2022 08:31 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website scoopbuddy.com).