Malaysia's vehicle sales surged 6.6% to 390,296 units in the first half of 2024.
The Malaysian Automotive Association (MAA) has announced strong vehicle sales for the first half of 2024. They reported a total of 390,296 units sold during this period, which is 6.6% higher than the sales recorded in the same period last year (366,176 units). This suggests a promising outlook for the automotive industry in the coming year.
The passenger car market showed strong growth, rising by 9.2% (30,162 units) to reach 356,859 units. Meanwhile, the commercial vehicle segment saw a decline of 15.3% (6,042 units), totaling 33,437 units sold.
MAA credited the positive growth to a strong economy, with Malaysia's GDP rising by 4.2% in the first quarter, stable interest rates at three percent since March 2023, and steady employment and socio-political conditions.
Furthermore, the total number of vehicles sold was boosted by the launch of new models, including electric vehicles, which saw sales surge by 112% to 6,617 units. There was also a high demand backlog, especially for A-segment vehicles like the Perodua Axia. Perodua's strong sales performance played a key role in increasing the market share of national brands, including Proton, to 62%, up by 1.7%. Together, they sold a combined total of 241,937 units.
16 Jul 2024
