Malaysian CV market recovers strongly in Q4 and sales rise by 41% in 2022
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By Will Pulson - 4th April 2023
Malaysia - The Malaysian commercial vehicle market over 2 tons gvw expanded by just under 6% to 21,050 in the fourth quarter of 2022 from 19,915 in the same period of the previous year, based on data compiled by the Malaysian Automotive Association (MAA).
Malaysian GDP grew by a better than expected 7.0% year-on-year in fourth quarter, down from over 14% in the third quarter when the economy rebounded from the year-earlier Covid lockdowns. Growth continued to be driven by private consumption, which grew by 7.4% after rebounding by over 15% in the third quarter, while government spending growth slowed to 2.4% from 4.5%.
