Sales of new vehicles set to soften in 2024

Kenanga Research projects that TIV this year will soften to 710,000 units.

PETALING JAYA: New vehicle sales, or total industry volume (TIV), in Malaysia is expected to soften in 2024 amid a lack of catalysts.

This follows a strong finish for the country’s automotive industry last year, where TIV hit a record high of 799,731 units, up 11% year-on-year (y-o-y).