MALAYSIA'S NEW VEHICLE SALES FALL 10% IN MARCH -- MAA

Malaysia's new vehicle sales in March 2024 fell 10% to 71,052  units, compared with 78,881 registered in the same month last year, said the Malaysian Automotive Association (MAA).

However, the association noted that the total industry volume (TIV) in March was 10% higher than in February 2024, which was at 64,290 units. “This was due to rush for deliveries by companies having their financial year ending on 31st March, 2024 and Hari Raya festive season promotional campaigns,” it said in a statement.

MAA shared that 64,760 passenger vehicles (PVs) were sold in March, a decline of nine% from the 70,490 units sold in February 2024 while sales of commercial vehicles (CV) fell 21% to 6,292 units from 7,941 units.

As for year-to-date sales volume for March 2024, it was five% higher at 202,245 units compared to 192,615 units registered in the corresponding period in 2023. This comprised 184,994 units of PV (up eight%) and 17,251 units of CV (down 16%), it said.

In terms of production, MAA said 66,923 vehicles were produced in March 2024, a drop of 12% from 76,069 units in March last year.

Of that amount, 63,778 units were PVs, down by 11% from 71,731 units in the same month last year, while the remaining  3,145 units were CVs (down 28%) from 4,338 units previously.

On a year-to-date basis for March 2024, MAA said that 210,431 units were produced, which was six% higher compared to 198,394 units produced in the same period last year.

This included 199,199 units of PVs (up seven%) from the corresponding period last year while the balance of 11,232 (down eight%)  were CVs.

On the outlook for April 2024, MAA added it expected sales to be lower than in March 2024 due to the shorter working month because of the Hari Raya festive holidays.