CV sales in Malaysia nearly double in Q2
By Will Pulson - 10th October 2022
Malaysia - The Malaysian commercial vehicle market over 2 tons gvw continued to recover strongly in the second quarter of 2022, with sales near to doubling to 19,228 units from 9,815 units a year earlier, based on analysis of industry data released by the Malaysia Automotive Association (MAA).
Malaysian GDP growth accelerated to 8.9% year-on-year in in the second quarter of 2022 compared with 5.0% growth in the first quarter, after the government eased its latest Covid restrictions at the end of March. Growth was lifted by strong domestic consumption, with consumer spending surging by over 18% after growing by 5.5% in the first quarter, while fixed investment increased by 5.8% after growth of just 0.2%. This more than offset a slowdown in government spending growth to 2.6% from 6.7%.