KUALA LUMPUR (April 17): The Malaysian Automotive Association (MAA) said total vehicle sales for March 2023 hit a new monthly all-time high of 78,849 units, surpassing the previous record of 76,657 units in December 2022.

Total industry volume (TIV) for the month was underpinned by the fulfilment of bookings made during the sales exemption period, rush for deliveries by companies having their financial year ending on March 31, 2023, as well as Hari Raya festive season promotional campaigns.

In a statement on Monday (April 17), the association said the monthly TIV was 24% higher than 63,510 units sold in February.

This raised year-to-date (YTD) TIV sales to 192,474 units, up 20% from 159,846 units in the same period last year.

Total vehicle production for the month also grew 19.23% to 76,069 units from 63,798 units in February 2023, while its YTD figures jumped 28.69% to 198,394 units from 154,160 units a year ago.

However, MAA expects April sales will be much lower than March 2023 following the short working month due to Hari Raya festive holidays.