KUALA LUMPUR (Aug 16): The number of vehicles sold in Malaysia rose 11% year-on-year (y-o-y) in July 2024, mainly driven by the longer working month and new model launches, the Malaysian Automotive Association (MAA) said on Friday.

Total industry volume (TIV) - Malaysia’s main gauge of vehicle sales - rose to 71,730 units in July compared to 64,790 units in the same month in 2023, MAA said in a statement.

On a month-on-month (m-o-m) basis, Malaysia’s TIV increased 24% from 58,046 units in June 2024.

Year to date (YTD), TIV grew 7% to 462,088 units against 430,966 registered from January to July in 2023.

In terms of production, MAA reported a total of 70,295 vehicles were produced in July this year, up 5% y-o-y from 66,862 vehicles in the same month last year.

Malaysia produced 462,347 vehicles as of July 2024, an increase of 8% compared to 429,397 units in the same period of 2023.

MAA, which recently raised its car sales forecast to 765,000 units for 2024, expects the sales momentum to be maintained in August, with some car companies holding National Day promotional campaigns. 

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