The Malaysian Automotive Association has released the monthly Total Industry Volume (TIV) figures for 2023 and was pleased to inform the numbers continue with their upward momentum.
TIV for July 2023 was 1.7% higher than June 2023 (which was at 62,593 units), according to the latest figures published today. MAA said the slightly higher TIV of July 2023 was due to normalisation of the automotive supply chains and fulfillment of bookings received for new model launches recently.
Total Industry Production recorded in July 2023 (at 66,862 units) was much higher compared with 58,051 units in June 2023.
For the accumulative TIV from January to July 2023, total production hit 66,862 against 52,061 recorded in 2022 during the same period, this constitutes a 28% increase. As for sales, brands sold a record 63, 676 during the 7 months while 2022 saw 49,934 units sold.
Looking into August, MAA forecast sales are expected to be slightly higher than July 2023 level. This it said was due to the introduction of a few new models as well as National Day promotional campaigns by some car companies.
