Production and sales of cars in Malaysia for 2024 have decreased compared to 2023

The production and sales of vehicles in Malaysia have generally decreased for both the passenger and commercial vehicle segments.

Passenger vehicles

According to a report released by the Malaysian Automotive Association (MAA) today, the production of passenger vehicles for the month of March 2024 was 63,778 units, a decrease of 11 percent compared to 71,731 units in the same month last year.

Meanwhile, the sales of passenger vehicles in March 2024 were 64,760 units, down from 70,940 units in March 2023, representing a nine percent decrease.

The year-to-date production for 2024 has reached 199,199 units, a seven percent increase compared to 186,237 units from January to March 2023.

Overall year-to-date sales of passenger vehicles have also increased by seven percent, reaching 184,994 units compared to 171,964 units.

Commercial vehicles

On the other hand, in the commercial vehicle category, the production in March 2024 was only 3,145 units, a 28 percent decrease from 4,338 units in the same month in 2023.

Sales also decreased by 21 percent, with 6,292 units in March 2024 compared to 7,941 units in March 2023.

The year-to-date production of commercial vehicles has decreased by eight percent, with 11,232 units for the first three months of 2024 compared to 12,157 units in the previous year.

First quarter sales for 2024 have also decreased by 16 percent, with 17,251 units compared to 20,651 in 2023. MAA stated that the total industry volume (TIV) for March 2024 increased by 10 percent compared to February 2024.

This is attributed to manufacturers rushing to close their financial year by March 31, 2024, as well as promotional campaigns in conjunction with Hari Raya. MAA expects vehicle sales in April 2024 to be lower due to fewer working days as a result of the holiday season.