JANUARY 2024 VEHICLE SALES UP 31% TO 65,499 UNITS - MAA

Malaysia's new vehicle sales soared 31% to 65,499 units in January this year against 50,168 units during the same month last year due to higher passenger vehicle sales, according to the Malaysian Automotive Association (MAA).

In a statement, MAA said the total industry volume for January 2024 was 16% lower than December 2023's 78,398 units.

“The higher sales in December 2023 is attributed to companies ramping up delivery of vehicles to fulfil backlog orders, especially for companies with financial year ending December 2023, and year-end bargains,” it said in a statement.

During the month, a total of 59,394 passenger vehicles were sold, while commercial vehicles amounted to 6,105 units.

A total of 76,077 vehicles were produced in January 2024 compared with 58,527 units in the same month last year. 

Passenger vehicle production stood at 71,666 units versus 54,663 units a year ago, while commercial vehicle production amounted to 4,411 units versus 3,864 units previously.

On the outlook for February 2024, MAA expects sales to be lower than January 2024 on the back of a shorter working month due to the Chinese New Year holidays.