MAA: Malaysia's new vehicle sales up 21% in April

KUALA LUMPUR: Malaysia’s new vehicle sales surged 21 per cent to 57,991 units in April 2024 from 47,802 in the same month last year, according to the Malaysian Automotive Association (MAA).

The association noted that the total industry volume (TIV), however, was 18 per cent lower compared with March 2024’s TIV of 71,052 units.

"(April was a) short working month due to the Hari Raya festive holidays,” it explained in a statement today.

A total of 53,253 passenger vehicles (PVs) were sold in April, an increase of 25 per cent from the 42,587 units sold a year earlier, while sales of commercial vehicles (CV) fell nine per cent year-on-year (y-o-y) to 4,738 units from 5,215 units.

MAA said sales volume for the first four months of this year grew by eight per cent to 260,236 units from the 240,417 units registered in the corresponding period in 2023.

The TIV comprised 238,247 PVs (up 11 per cent) and 21,989 CVs (down 15 per cent).

In terms of production, MAA said 56,895 vehicles were produced in April 2024, a rise of 38 per cent from 41,160 units in the same month last year.

Of that, 53,857 units were PVs, a jump of 40 per cent from 38,575 units a year earlier, while CVs comprised 3,038 units, an increase 18 per cent from 2,585 units previously.

On a year-to-date basis, MAA said that 267,326 units were produced, which was 12 per cent higher than the 239,554 units produced in the same period last year.

This included 253,056 PVs (up 13 per cent y-o-y) and 14,270 CVs (down three per cent y-o-y).

On the outlook for May 2024, MAA forecast a "slightly higher” sales compared with last month. - Bernama

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