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Malaysia's vehicle sales up 9% y-o-y in May, to remain steady in June — MAA

Publish date: Tue, 18 Jun 2024, 05:29 PM

KUALA LUMPUR (June 18): Malaysia's new vehicle sales surged 9% to 68,665 units in May 2024, from 63,158 in the same month a year earlier, according to the Malaysian Automotive Association (MAA).

Month-on-month, total industry volume was 18% higher, compared with 57,991 units in April, the MAA said in a statement, attributing the increase to longer working days and stronger performances of national carmakers.

A total of 62,862 passenger vehicles (PVs) were sold in May, an increase of 11% from the 56,448 units sold a year earlier, while sales of commercial vehicles (CVs) fell 14% year-on-year (y-o-y) to 5,803 units from 6,710 units.

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Year to date (YTD), sales volume grew by 8% to 328,901 units, from the 303,575 units registered in January to May 2023. PV sales rose 11% to 301,109 units from 270,999 units, but CV sales fell 15% to 27,792 units from 32,576 units.

In terms of production, the MAA reported that a total of 74,174 vehicles were produced in May this year, up 14% y-o-y from 64,930 units previously.

Of that, 70,132 units were PVs, a surge of 16% from 60,931 units a year earlier, while CVs comprised 4,042 units, a drop of 11% from 4,539 units.

On a YTD basis, the MAA said that 341,500 units were produced -12% higher than the 304,484 units produced in the same period last year. This included 323,188 PVs, up 13% y-o-y from 285,203 units, and 18,312 CVs, down 5% y-o-y from 19,281 units.

On the outlook for June, the MAA expects sales to be maintained at the same level as the previous month.

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