KUALA LUMPUR: The Malaysian automotive industry has suffered RM14 billion losses in June and July, according to the Malaysian Automotive Association (MAA).
Based on MAA's latest statistics, sales amounted to only 1,921 units and 7,086 units for June and July 2021 respectively.
MAA president Datuk Aishah Ahmad said its members had also lost much in terms of revenue from exports of vehicles and components, and sales of spare parts locally.
The losses had been very substantial and unprecedented, Aishah added.
She said the industry could not sustain itself if the shutdown was prolonged.
"Many of us are bleeding. We have used up much of our savings over the past one year. So, it is a huge relief that finally we are allowed to resume our businesses and to revive our industry.
"On behalf of all MAA members, we thank the government especially the Ministry of International Trade and Industry (MITI) for allowing the automotive sector to operate," she said in a statement today.
MAA said the local automotive industry had suffered huge losses since motor vehicles production plants, distributions centres and sales centres especially in Klang Valley were halted since June 1.
"That shutdown affected not only the automotive companies but went on to having wider repercussions on the entire automotive eco-system nationwide.
"Sales and production of motor vehicles for the past 2.5 months had been greatly hampered," it said.
It said in terms of total industry volume (TIV), the average sales were between 45,000 and 50,000 units per month.
Source: https://www.nst.com.my/business/2021/08/718309/malaysias-car-companies-lose-rm14bil-two-months-says-industry-body