Malaysia 2021. Mitsubishi Is The Best Performer In Market Down 5.4%
Malaysia’s car market in October 2021 starts rising slowly and remains 17.8% above pre-pandemic levels. In fact, 63,489 units have been sold in October (+8.3%), leading Year to Date sales at 378,046 units (-5.4%). Mitsubishi reports the quickest growth, rising 99.7% YTD.
Market Trend in October
In October 2021 Malaysia’s market started growing again after reporting a 21.6% decrease in the previous month, and reports 63,489 units sold (+8.3%), leading Year to Date sales at 378,046 units, a 5.4% decrease in sales compared to 2020. Compared to pre-pandemic levels the market is effectively recovered, with sales increasing by 17.8% with respect to the same month in 2019.
Brand-wise, Perodua remains on the top of the leaderboard and reports a 13.6% decrease in sales YTD while holding 38.9% market share, while Mitsubishi reported the best increase in sales by rising 99.7%. On the other hand Honda reports the sharpest drop by falling 17.9%.
Medium-Term Market Trend
The market grew uninterruptedly from 2012 to 2015 hitting the all-time record with 666.745 units, before declining in 2016 to 583,219 and again in 2017. In 2018 the market started recovering, registering 598,742 units (+3.8%), pushed by the temporary removal of the 6% Goods and Services Tax (GST) on all car purchases since June. In 2019 the market was stable. Indeed, the full year ended with 604,893 registrations, improving 10.3% from the previous year.
Due to the COVID-19 pandemic sales fell in 2020. In fact, 529,829 units have been sold, reporting a decline of 12.4% compared to 2019.
In 2021 the year started positively for the Malaysian market, in fact, in Q1 139,499 units have been sold, reporting a 31.3% increase in sales compared to Q1 2020.
In Q2 sales started growing quickly, reporting a 56.6% increase in sales with 106,197 units due to the low volumes in Q2 2020.
In Q3 sales dropped quickly, losing 58.7% sales with 68,861 units.
Tables with sales figures
In the tables below we report sales for all Brands and top 10 Groups.
Read more at the source: https://www.focus2move.com/malaysian-vehicles-market/
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