Vehicle sales expected to be lower in second half of this year

HLIB Research has maintained its 2024 TIV at 760,000 units, down 5% y-o-y versus MAA’s 765,000 units target.

PETALING JAYA: Analysts generally expect Malaysia’s new vehicle sales or total industry volume (TIV) will grow between 730,000 and 765,000 units in 2024, with the second half year (2H24) sales likely to be lower than 1H24.

Malaysia Automotive Association (MAA) in a recent release said TIV for July came in at 71,739 units, rising 23.5% month-on-month (m-o-m) and up 10.7% year-on-year (y-o-y) respectively.