MAA: Car sales may sustain in June

The TIV for the January-May 2024 period was 8% higher than the corresponding period of 2023.

PETALING JAYA: Local car sales in June are expected to remain at the same level as in May, says the Malaysian Automotive Association (MAA).

Overall, the total industry volume (TIV) for May was 18% higher than April (57,991 units) due to the longer working month and stronger performances of national carmakers in May.

The TIV for the January-May 2024 period was also 8% higher than the similar corresponding period in 2023.

New vehicle sales rose by 9% year-on-year (y-o-y) in May to 68,665 units from 63,158 units previously. For the first five months of the year (5M24), car sales were up by 8% y-o-y to 328,901 units.

Sales of passenger vehicles registered an 11% increase for both May this year and 5M24, reaching 62,862 units and 301,109 units, respectively.

Meanwhile, sales of commercial vehicles saw a contraction of 14% and 15% in May and 5M24 to 5,803 units and 27,792 units, respectively.