MAA forecasts 17.9% rise in TIV to 600,000 units for 2022

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KUALA LUMPUR: The Malaysian Automotive Association (MAA) has forecast a 17.9 per cent development in complete trade quantity (TIV) to 600,000 units for 2022 from 508,911 units recorded in 2021.

President Datuk Aishah Ahmad mentioned passenger and industrial automobiles are anticipated to report gross sales of 540,000 and 60,000 units, respectively, this 12 months.

The world financial system is anticipated to rebound post-pandemic as economies worldwide have largely opened up, she mentioned.

“The gross sales tax exemption incentive for passenger automobiles until June 30, 2022 and ramping up of manufacturing and deliveries by automotive corporations to fulfil backlog and new orders would be the predominant contributors to enhancing gross sales,” she informed a media briefing on the MAA 2021 market assessment and 2022 outlook right here, at present.

Bank Negara Malaysia is anticipated to keep its benchmark in a single day coverage charge at 1.75 per cent at present, which is able to present further stimulus for the sector, she mentioned.

“This might assist to stimulate home spending together with massive ticket gadgets like automobiles. Consumer spending is anticipated to revive in tandem with the nation’s restoration.”

Aishah mentioned the introduction of latest fashions together with electrical automobiles at extra aggressive costs, aggressive promotional campaigns by MAA members to push gross sales can even assist to maintain shopping for curiosity.

However, she added that the sector might proceed to face pandemic-related challenges, provide chain points, semiconductor chips scarcity and rising freight price, which can have an effect on the nation’s development momentum and impression new automobile gross sales.

“However, it’s unlikely these disruptions will trigger main upheavals, on condition that the authorities have had a lot expertise in dealing with the COVID-19 disaster over the previous two years,” she mentioned.

New automobiles gross sales fell for the second consecutive 12 months in 2021 with TIV at 508,911 units versus 2020’s 529,514 units, which interprets right into a 4 per cent drop.

On the entire, she mentioned it was nonetheless a commendable achievement given the challenges confronted by the trade.

In the 12 months beneath assessment, solely the passenger automobiles (PV) phase registered decrease gross sales, declining by 28,308 units or 5.9 per cent, whereas the industrial automobiles phase registered a development of 15.9 per cent, or 7,705 units, to hit 56,248 units.

“The enchancment in industrial automobile gross sales was due to corporations investing in anticipation of an financial rebound. Economic sectors equivalent to e-commerce, healthcare and logistics had been deemed as important actions and weren’t restricted from working, and loved development in 2021,” she added. – Bernama



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