Malaysia's vehicle sales fall in May due to shortage of chips

by IANS |

Kuala Lumpur, June 21 (IANS) Malaysia's total vehicle sales fell 11.76 per cent 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.

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 per cent.

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.

Latest News
2022 pre-monsoon summer heat overtake 2016 as 2nd hottest pre-monsoon season on record: CSE Thu, Jul 07, 2022, 04:37 PM
Shiv Sena 'leaks' on as ex-Thane Mayor, 67 leaders join Shinde Group Thu, Jul 07, 2022, 04:35 PM
Warsaw 'toasts' 2 Indian Maharajas who fostered WWII displaced Poles Thu, Jul 07, 2022, 04:32 PM
New Zealand PM in Australia to boost trade ties Thu, Jul 07, 2022, 03:54 PM
Cummins hints Maxwell might play at number eight in second Test against Sri Lanka Thu, Jul 07, 2022, 03:50 PM
Karnataka rain fury: Landslip kills 3, schoolgirl untraced Thu, Jul 07, 2022, 03:49 PM
Sri Lanka Cricket affirms its readiness to host Asia Cup 2022: Report Thu, Jul 07, 2022, 03:41 PM
Trinamool not to take onus of FIRs against Mahua Moitra Thu, Jul 07, 2022, 03:37 PM
Ilaiyaraaja deserves Bharat Ratna: VCK MP Thu, Jul 07, 2022, 03:27 PM
Modi to attend 1st Arun Jaitley Memorial Lecture on July 8 Thu, Jul 07, 2022, 03:26 PM
Cuba designates new protected areas Thu, Jul 07, 2022, 03:07 PM
Boris Johnson to resign as Conservative leader today Thu, Jul 07, 2022, 03:00 PM
Boris Johnson to quit as Conservative leader, but will remain PM Thu, Jul 07, 2022, 02:59 PM
4th Covid dose approved for more Australians Thu, Jul 07, 2022, 02:55 PM
India to play near full-strength squad in five T20Is against West Indies; Kohli might be rested: Report Thu, Jul 07, 2022, 02:51 PM