Vehicle sales drop by 0.8% in August 2024 – MAA

The Automotive Association of Malaysia (MAA) has announced that between January and August 2024, the local automotive industry recorded sales of 533,301 units, representing a 6% increase compared to the 503,783 units sold during the same period last year.

According to the association, of this total, 488,277 units represented passenger vehicles, while the remaining 45,024 units were commercial vehicles, compared to 451,403 units and 52,380 units recorded for each category in the first eight months of 2023.

The MAA further noted that vehicle sales for August 2024 experienced a marginal decline of 0.8%, totaling 71,162 units compared to 71,730 units in the previous month; however, it remained above 70,000 units per month.

“In terms of month-to-month comparison, sales in August decreased from the 72,844 units recorded in August 2023,” MAA stated.

Breaking it down by categories, passenger and commercial vehicles recorded sales of 65,637 units and 5,525 units in August 2024, respectively, lower than the 65,709 units and 7,135 units registered in August last year.

In terms of production, a total of 73,966 vehicles were produced last month, an increase from the 67,912 units produced in August 2023.

Passenger vehicles constituted 69,624 units of the overall production in August, while commercial vehicles accounted for 4,342 units.

For the period from January to August 2024, a total of 536,313 vehicles were produced, a figure higher than the 497,309 units manufactured in the same period last year. This includes 506,374 units of passenger vehicles and 29,939 units of commercial vehicles.