Despite the fact that the fulfilment period associated with the sales tax exemption has expired on March 31, car sales are expected to remain strong in the second quarter of 2023. Automotive businesses are optimistic about their performance in the current quarter, thanks to healthy sales orders and active marketing activities.
According to the Malaysian Automotive Association (MAA), total vehicle sales in March 2023 reached a new monthly all-time high of 78,849 units, breaking the previous monthly record of 76,657 units set in December 2022.
The month’s total industry volume (TIV) was supported by the fulfilment of bookings made during the sales exemption period, a rush for delivery by enterprises with fiscal years ending on March 31, 2023, and Hari Raya festive season promotional activities.
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