— IZZRAFIQ ALIAS/The Star
KUALA LUMPUR: Malaysia’s new vehicle sales fell 8.3% to 69,859 units in October from 76,173 units in the same month last year, according to the Malaysian Automotive Association (MAA).
The association said in October 2024, 64,322 unit passenger vehicles were sold, down 6% from the 68,721 units sold in October 2023, while sales of commercial cars tumbled 26% to 5,537 units from 7,452 units.
Sales increased by 2% to 664,002 units in the first 10 months of 2024, compared to 648,130 units during the same period in 2023.
Meanwhile, MAA reported that 71,196 vehicles were produced in October 2024, a 4% decrease compared to 74,191 units in October 2023.
MAA reported that the total industry volume (TIV) for October 2024 was 20% higher than September 2024, which stood at 58,032 units.
The increase was primarily attributed to year-end promotional campaigns by car manufacturers and the longer working month.
“Sales momentum is expected to continue in November 2024 and sales is expected to be higher than October 2024,” MAA said.
