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Malaysia’s Vehicle Sales Dropped Nearly 4% to Below 509,000 Units in 2021
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Malaysia’s vehicle sales declined 3.9% year-on-year to 508,911 units in 2021. Due to the nationwide corona lockdown in June and July 2021, sales dropped around 90% during those two months. However, economic activity gradually resumed following the lifting of the lockdown, vehicle sales rising to a monthly average of 60,000-65,000 units in the last quarter of the year. Apart from the resumption of economic activities, sales were also stimulated by the extension of sales tax exemption for new vehicles which was originally scheduled to end in June 2021. Although passenger vehicle sales decreased 5.9% to 452,663 units, commercial vehicle sales went up 15.9% to 56,248 units.