KUALA LUMPUR (Nov 15): Car sales in October 2023 rose 10% to 74,896 units from September's 68,156 units, showcasing robust growth in total industry volume (TIV), said the Malaysian Automotive Association (MAA).

In a statement on Wednesday, MAA said October's sales represent the second-highest monthly TIV in 2023, after 78,849 units sold in March.

It was also the third time this year that the monthly TIV exceeded the 70,000-mark, noted the association.

In August, car sales rose 13% month-on-month (m-o-m) to 71,745, thanks to an improvement in supply chain issues coupled with National Day promotions by some car companies.

Year-on-year, October's sales rose 22.78% from 61,002 units.

On a year-to-date (YTD) basis, the sales volume up until October 2023 of 646,840 units was 12% higher than 578,917 logged in the corresponding period a year ago, thanks to very strong performance by national marques, said MAA.

Meanwhile, the total industry production (TIP) reached 74,191 units in October 2023, encompassing both passenger and commercial vehicles. 

This figure reflects a notable 7.32% increase compared to the preceding month. 

Looking ahead to November 2023, MAA expected sales to maintain momentum, mirroring the robust performance seen in October 2023.