Malaysia’s new vehicle sales fall 10pc in March, says MAA

KUALA LUMPUR, April 23 — Malaysia’s new vehicle sales in March 2024 fell 10 per cent 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 per cent 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 March 31, 2024 and Hari Raya festive season promotional campaigns,” it said in a statement today.

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

As for year-to-date sales volume for March 2024, it was five per cent 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 per cent) and 17,251 units of CV (down 16 per cent), it said.

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

Of that amount, 63,778 units were PVs, down by 11 per cent from 71,731 units in the same month last year, while the remaining 3,145 units were CVs (down 28 per cent) 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 per cent higher compared to 198,394 units produced in the same period last year.

This included 199,199 units of PVs (up seven per cent) from the corresponding period last year while the balance of 11,232 (down eight per cent) 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. — Bernama