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Car sales in Malaysia increases 18 percent at 68,665

THE number of vehicle sales in Malaysia was recorded at 68,665 units in May 2024. This marks an 18 percent increase compared to the 57,991 units recorded in April, according to the Malaysia Automotive Association (MAA).

In year-on-year comparison, the total industry volume (TIV) last month saw a nine percent increase compared to May 2023, which recorded 63,158 units.

The association stated that the sales recorded in May 2024 were a result of a longer working month in May 2024 and steady performance by local manufacturers.

“From the beginning of the year until May 2024, TIV is eight percent higher at 328,901 units compared to the same period in 2023 with 303,575 units,” said MAA in a statement.

In May 2024, passenger vehicles recorded sales of 62,862 units, an 11 percent increase compared to the same month in 2023 with 56,448 units.

However, commercial vehicle sales decreased by 14 percent to 5,803 units in May 2024 compared to 6,710 units in the same month in 2023.

In terms of vehicle production, the latest statistics from MAA showed that 74,174 units were produced in May 2024, a 14 percent increase compared to 64,930 units in the same month last year.

During that month, passenger vehicle production reached 70,132 units, 16 percent higher compared to 60,391 units in the same month the previous year.

NEWS

20 percent of vehicles sold in Malaysia are EV as of 2030 – Tengku Zafrul

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The government has set a national target where 20 percent of Malaysia’s annual new car sales will consist of electric vehicles (EV) by 2030, 50 percent by 2040, and 80 percent by 2050.

According to the Minister of Investment, Trade, and Industry (MITI) Tengku Datuk Seri Zafrul Abdul Aziz, this is to accelerate the National Automotive Transition Plan (NETP) launched in August this year.

“MITI’s commitment to propel Malaysia forward in the electric vehicle revolution can be seen through the National Automotive Policy 2020 (NAP2020).

“NAP2020 provides the local automotive industry with a clear direction for future readiness, through the development of next-generation vehicles including energy-efficient and environmentally friendly EVs,” Zafrul said.

Meanwhile, Malaysia has recorded strong growth in EV sales every year, and the government is optimistic that this positive momentum will continue until the end of 2023, according to Zafrul.

So far, Malaysia has registered over 100,000 electric vehicles.

“More than 12,000 battery electric vehicles (BEVs) have been registered since 2011, with the number of BEVs registered just this year alone exceeding 9,000 units,” he said in his speech at the early launch of the Malaysia Autoshow 2024 (MAS 2024) recently.

For the first 10 months of 2023, Malaysia’s vehicle sales recorded strong growth, increasing by 11.6 percent to nearly 647,000 units.

Tengku Zafrul said he believed that electric vehicles would be a catalyst for Malaysia’s manufacturing industry exports.

“Therefore, there is great potential in next-generation vehicles that require more components, for example, semiconductor composites, chip components in today’s cars, and even hybrid cars contain around 1,500 chips in a single car,” he said.