♦ Though just 181 units less, November’s Total Industry Volume (TIV) remained above the 56,000-unit level that new vehicle sales have been at since September. Compared to the same month in 2019, the 2020 TIV was 7.4% higher.

♦ However, when compared to the 11-month period in 2019 where the cumulative TIV was 549,439 units, the cumulative volume this year was lower at 454,708 units. Clearly, the MCO shutting down businesses and factories was a great impact on the industry and cannot be recovered from.

♦ The MAA had revised its forecast to 470,000 units earlier in the year and this is just 15,292 units more than the cumulative TIV from January to November. The forecasted TIV should therefore be achieved easily and if December proves to be a better month than all the other months due to promotions and the rush to buy new vehicles before the sales tax exemption ends, the year could end at 500,000 units or slightly more.

♦ Of the 56,489 units registered, 9.4% were commercial vehicles and pick-up trucks.

♦ The output from the plants was 18% higher in November this year, compared to the same month in 2019, although it seems to be slowing down. While the bigger players like Perodua and Proton have many back orders, other companies may have built up sufficient stocks and now want to manage the inventory in preparation of a slowdown in January. Many customers are likely to want their new vehicle this year to take advantage of the tax savings, in contrast to the usual practice of deferring registration to the new year.

Source: Monthly reports of Malaysian Automotive Association