Tag Archives: sales

Volvo Cars reports record core operating profit of SEK 8.2 billion in Q2 2024

Volvo Cars today reports an operating profit (EBIT), excluding joint ventures and associates, of SEK 8.2 billion for the second quarter of 2024, the highest-ever in a single quarter and an increase of 28 per cent versus the same period in 2023.

The corresponding core EBIT margin reached a record high of 8.1 per cent, versus 6.3 per cent in the same period last year. This improvement in the underlying profitability was a result of the company’s focus on pricing discipline, internal cost control and sustained growth in sales.

During the quarter, global retail sales rose by 15 per cent year-on-year to 205,400 cars. This was driven by the performance of the company’s electrified cars – both plug-in hybrids and electric cars – sales of which grew by 43 per cent in the second quarter, versus the same period last year.

48 per cent of Volvo Cars’ global sales volume during the quarter consisted of plug-in hybrid (PHEV) and fully electric (EV) cars, while its EV-only share of sales rose to 26 per cent. The strong demand for the company’s electrified cars was demonstrated by the EX30 small SUV, which was among the top three best-selling EVs in Europe, while the XC60 plug-in hybrid continues to be the best-selling PHEV in Europe in recent months.

The EX30 has proved popular with customers in Europe and other markets. This has been reflected in Volvo Cars’ gross margins, which increased to 22.8 per cent from 19.0 per cent last year. Gross margins on its EVs reached a new high of 20 per cent in the period, demonstrating that Volvo Cars continues to make the transition towards electrification profitably.

Revenue for the second quarter came in at SEK 101.5 billion, versus SEK 102.2 billion reported in the same period last year. The slight revenue decline was due to reduced income from contract manufacturing and a normalisation of sales to rental companies. Volvo Cars’ core revenues from operations during the quarter, excluding income from contract manufacturing, remained stable.

“We delivered a strong second quarter performance in 2024 with record underlying profitability, demonstrating our ability to create value despite a complex geopolitical and economic environment,” said Jim Rowan, chief executive of Volvo Cars. “Our core operational momentum remains on a firm footing, thanks to the strength of our balanced strategy, product portfolio and our agility in responding decisively to headwinds.”

“Our brand and values around safety and sustainability, as well as our unique technology approach, continue to resonate strongly with customers,” added Jim Rowan.

The EX30, EM90 and EX90 are clear examples of where Volvo Cars is going, as it continues its journey towards full electrification. Together with its plug-in and mild hybrid cars, these EV models provide Volvo Cars with a balanced portfolio that serves as a clear bridge to an all-electric future.

This transition will not be a linear development. Many consumers are not yet able to go fully electric, particularly in areas with low infrastructure development or because of the early withdrawal of incentives by governments. These factors make Volvo Cars’ balanced line-up of fully electric, plug-in and mild hybrid models important as a bridge.

Volvo Cars continues to invest across the breadth of its product range, both in new models and ongoing improvements to existing ones. During its Capital Markets Day in September, Volvo Cars will reveal more details on its technological roadmap as well as forthcoming models and updates.

Yet like all global companies, Volvo Cars operates in a complex geopolitical environment that impacts trade and tests supply chain resilience. In the short term, potential tariffs from the EU commission affecting EVs from China will affect the EX30.

However, as the company previously announced, it will start producing the EX30 in its Ghent, Belgium plant next year, as part of its ‘Build where we sell’ strategy. The company aims to start production of the EX30 in Ghent during the first half of 2025, with volumes ramping up during the second half of that year.

UMW Toyota sales down by almost 10% in June 2024

UMW Toyota Motor (UMWT) has announced its sales performance for June 2024, with the company recording a total of 7,600 units sold.

The figure represents a decrease of 9.8% compared to the 8,422 units recorded in May. With this recent achievement, the total year-to-date sales as of June 2024 is now at 47,000 units.

According to UMWT, this reflects the company’s initiatives and successful customer-centric promotions. The company characterizes the sales performance in June as positive, driven by successful promotional efforts and a focus on both customer satisfaction and social responsibility.

Datuk Ravindran K., President of UMWT, said, “We are grateful for the trust our customers have given us, which is reflected in our sales this month. This trust strengthens our commitment to society and aligns with our vision to Move Your World.”

To further enhance buying experience, UMWT has introduced the “Peace of Mind with Every Drive” promo for July 2024, offering customers up to 100% financing for selected models.

Additionally, customers can enjoy various other savings, including promotions worth up to RM7,500 for the new Yaris, with monthly installments from as low as RM688.

Meanwhile, the Toyota Service Savers program further offers convenient monthly instalments starting from as low as RM31.

Following the warm reception of Toyota Showroom Weekender held on July 13 and 14, UMW said it will continue to host the event monthly.

Proton sold 73,696 cars in first six months of 2024

PROTON has announced that for the month of June 2024, it successfully sold a total of 10,999 vehicles for the domestic and export markets. This allowed the national car manufacturer to strengthen its hold of second place in the automotive sales table.

The figures for June show a slight drop from May, during which the company recorded sales of 12,522 units. Proton said in a statement that sales volume was affected by a planned one-week plant shutdown for scheduled operations improvement activities.

However, overall, the company achieved a market share figure of 19.1% for the month, the same as its year-to-date (YTD) market share figure. Total sales for the first half of 2024 closed at 73,696 units.

According to Proton, total industry volume (TIV) for June is forecast softer than any month this year. An estimated 57,700 units were sold last month, lower than April, the previous low point in 2024 during a period affected by the long festive holiday.

Cumulatively however, the forecast TIV figure for the first six months of 2024 is approximately 386,600 units, which is nearly 20,000 units more than the same time period in 2023 when it reached a new record high.

June was a busy month for Proton. Aside from launching its e.MAS EV brand, it also celebrated the roll-out of the 5 millionth vehicle from its production line and launched the 2024 Proton X50.

This resulted in an immediate improvement in sales volume with the X50 returning to the top of the B-segment SUV class with 1,711 units, its best performance in three months. With production set to increase after the improvements to the plant, sales are expected to rise in the coming months.

The other model to finish at the head of its segment was the S70 with 1,440 units sold last month. The new model has lead C-segment sedan sales every month in 2024.

The Saga raked in a further 5,441 units in June, bringing its YTD sales figure to 34,838 units. On average over 5,800 units have been sold each month, making it easily one of the best-selling vehicles in the country.

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.

UMW Toyota sold 8,422 vehicles in May, total YTD now at 39,211 units

UMW Toyota Motor Sdn Bhd (UMWT) ended May 2024 with ongoing positive performance, attaining a total monthly sale of 8,422 units for Toyota and Lexus vehicles.

With this achievement, the total year-to-date sales as of May 2024 is now at 39,211 units.

Datuk Ravindran K., President of UMWT, stated the company’s strong performance in May highlights their relentless commitment to providing exceptional vehicles and services that cater to the diverse needs of their customers.

“The success of community programs strengthens our dedication to environmental sustainability and social responsibility, reinforcing our role as a leader in the automotive industry and embodying our ‘Move Your World’ philosophy,” he said in a statement.

UMWT’s commitment to community and environmental sustainability is demonstrated through the 23rd Toyota Eco Youth (TEY) program, launched in partnership with the Ministry of Education.

his national-level program empowers students aged 13 to 17 from 16 schools nationwide, focusing on Toyota’s 8 Steps Problem-Solving Method (PSM) to promote critical thinking and problem-solving skills.

Since its inception in 2001, TEY has engaged over 300,000 students from 521 schools, fostering a legacy of environmental stewardship.

UMWT also announced the third edition of the Toyota Start Your Impossible Outrun 2024, a charity run aimed at raising cancer awareness.

Set to take place at Dataran Merdeka, this annual event supports the National Cancer Society of Malaysia (NCSM) through funds raised.

As part of their commitment to enhancing the buying experience, UMWT introduced the “Peace of Mind” promo for June 2024, offering customers up to 100% financing for selected models.

Car buyers could enjoy broad promotional savings, including up to RM7,500 for the New Yaris, with monthly purchase instalments starting from only RM688 for the all-new Vios. The Toyota Service Savers program further offers convenient monthly instalments starting from as low as RM31.

Proton’s export strategy begins to bear fruit, sales rise 13.6% in May

PROTON has announced its sales performance for May 2024, which saw the national carmaker record sales of 12,522 units for both the domestic and export markets.

The figure represents a 13.6% increase compared to the previous month, bringing the total sales for the first five months to 62,697 units.

The achievement allows Proton to cement its second position in the overall national automotive sales ranking sales table with a forecast market share of 19%.

In a statement, Proton stated that the sales growth is in line with the trend for Total industry volume (TIV) which is estimated to have grown by 20.7% to approximately 70,000 units in May.

Cumulatively, the year-to-date (YTD) figure for TIV is estimated to be at 330,236 units, equivalent to 8.8% increase over 2023.

The automakers’s plans to expand and reestablish its brand in countries such as Trinidad and Tobago, Bangladesh, and Iraq this year have proven fruitful as its export sales came in at 509 units in May, the highest shipment recorded for 2024 thus far.

Since February this year, the best-selling export model is the Saga, which again led the pack with 360 units exported in May.

Most models also saw an uptick in May export sales, bringing the cumulative export sales to 1,344 units since January this year compared to 820 units for the same period in 2023. This represents a 63.9% increase in year-to-date export sales.

In Malaysia, the X90 reclaimed the title of the most popular D-segment SUV with 364 units sold. Sales of the S70 increased by 23% to 2,011 units, up from 1,635 units recorded in April.

Meanwhile, Saga sales increased by 21.6% to 6,119 units in May, with year-to-date sales growing by 8% to 29,397 units.

Proton sales up 17.1% in April as S70 builds momentum

PROTON has announced its sales performance for April 2023, which saw the national car manufacturer recording sales of 11,025 units for the domestic and export markets.

The figure represents a 17.1% increase compared to the 9,415 units achieved in April last year.

Sales for the first four months of 2024 have also increased to 50,175 units, higher than the 49,702 units sold from January to April 2023.

Total industry volume (TIV) for the Malaysian automotive market meanwhile also grew for the same period to an estimated 59,100 units and a cumulative total of 261,345 units for the year.

Proton’s market share is estimated at 18.7% in April alone while year-to-date market share is forecast to be at 19.2%, maintaining its second position in the overall national automotive sales ranking.

According to national automaker, the X50 years, regained the top spot for B-segment SUVs despite growing competition from the market with 1,642 units sold in April.

Meanwhile, the S70 continues to lead the C-segment sedan sales with 1,635 units sold last month, resulting in cumulative sales of 7,463 units for 2024.

The Saga remains Proton’s best-selling model, recording sales of 5,031 units in April, with year-to-date sales up 8.8% to 23,278 units.

The X70 came in at 552 units, while the Persona and X90 recorded sales of 1,429 units and 312 units, respectively. Iriz added 424 units to its April sales volume, making the total sales to date1,958 units.

“The slowdown in automotive sales in April, where TIV shrank by 16.8% compared to March 2024, can be attributed to the long holiday period as OEMs, dealerships and other members of the local automotive ecosystem took time off to celebrate Hari Raya Aidilfitri,” said Roslan Abdullah, Chief Executive Officer of Proton Edar.

Year to date, Proton export sales volume has surged 38.5% to 835 units as compared to 603 units registered in the same period last year.

Leading the export sales chart is the Saga with 427 units sold year-to-date, an increase of 16% from 368 units from the same period last year. The X50 came in second with 176 units sold while the S70 recorded 89 units in Brunei, its only export market.

Mitsubishi Xpander retains title as Malaysia’s top non-national MPV

MITSUBISHI Motors Malaysia (MMM) announced that the Mitsubishi Xpander has retained its position as the country’s foremost non-national MPV.

The seven-seater recorded sales of 11,384 units in Financial Year 2023 (April 2023 – March 2024).

Shinya Ikeda, CEO of Mitsubishi Motors Malaysia says achievement is a testament to the company’s commitment to delivering high-quality vehicles that resonate with the needs and preferences of Malaysian customers.

“The No. 1 spot also highlights that the Xpander is the preferred choice among Malaysian families seeking a versatile MPV,” he added.

Separately, the Triton sold 8,636 units in FY23 and maintained the top two spot in the pick-up truck segment.

“Mitsubishi Motors Malaysia is the top three non-national brand in Malaysia. Looking ahead to 2024, Mitsubishi Motors is continuously initiating changes for the better and an ownership experience of the highest standards,” Ikeda said.

Production and sales of cars in Malaysia for 2024 have decreased compared to 2023

The production and sales of vehicles in Malaysia have generally decreased for both the passenger and commercial vehicle segments.

Passenger vehicles

According to a report released by the Malaysian Automotive Association (MAA) today, the production of passenger vehicles for the month of March 2024 was 63,778 units, a decrease of 11 percent compared to 71,731 units in the same month last year.

Meanwhile, the sales of passenger vehicles in March 2024 were 64,760 units, down from 70,940 units in March 2023, representing a nine percent decrease.

The year-to-date production for 2024 has reached 199,199 units, a seven percent increase compared to 186,237 units from January to March 2023.

Overall year-to-date sales of passenger vehicles have also increased by seven percent, reaching 184,994 units compared to 171,964 units.

Commercial vehicles

On the other hand, in the commercial vehicle category, the production in March 2024 was only 3,145 units, a 28 percent decrease from 4,338 units in the same month in 2023.

Sales also decreased by 21 percent, with 6,292 units in March 2024 compared to 7,941 units in March 2023.

The year-to-date production of commercial vehicles has decreased by eight percent, with 11,232 units for the first three months of 2024 compared to 12,157 units in the previous year.

First quarter sales for 2024 have also decreased by 16 percent, with 17,251 units compared to 20,651 in 2023. MAA stated that the total industry volume (TIV) for March 2024 increased by 10 percent compared to February 2024.

This is attributed to manufacturers rushing to close their financial year by March 31, 2024, as well as promotional campaigns in conjunction with Hari Raya. MAA expects vehicle sales in April 2024 to be lower due to fewer working days as a result of the holiday season.

smart #1 secures top 3 spot in Malaysia’s premium EV SUV market

PRO-NET announced that the smart #1 has been ranked third in the EV SUV market category for cars priced above RM180,000, making it one of the most preferred premium EVs in Malaysia.

According to Pro-Net, the Malaysian EV market has witnessed exponential growth in recent years, with EV sales volume surging from 3,079 units in 2022 to 11,624 units in 2023, accompanied by a significant increase in market share from 0.43% to 1.45%.

Zhang Qiang, Chief Executive Officer of smart Malaysia said the milestone reflects the growing demand for urban mobility solutions in the region and reaffirms smart’s goal to position itself as a leader in the premium EV segment.

“With only one model sold, as opposed to other key players in the industry, we have achieved this great success. This exemplifies the trust our customers have in our product and services, and I would like to express my gratitude to our customers,’’ he added.

Designed by Mercedes-Benz and built on Geely’s Sustainable Electric Architecture (SEA), the smart #1 is available in three variants: Pro (RM189,000), Premium (RM219,000), and Brabus (RM249,000).

The Pro and Premium variants are equipped with a rear-mounted electric motor producing 272 PS and 343 Nm, enabling it to accelerate from 0 to 100 km/h in 6.7 seconds.

The more superior smart #1 Brabus features twin electric motors with an output of 428 PS and 543 Nm. With higher power and AWD, it only takes 3.9 seconds to reach a speed of 100 km/h.

The Pro variant comes with a 49 kWh battery providing a driving range of up to 315 km. On the other hand, the Premium and Brabus variants each have a 66 kWh battery, offering different driving ranges of 440 km for the former and 400 km for the latter.

SDAC-Ford sets new sales record in 2023 with 8,858 units Ranger, Everest sold

SIME Darby Auto Connexion-Ford (SDAC-Ford) has announced its sales performance for the year 2023, which saw the company achieve a record-breaking sales with 8,858 units of the Ford Ranger and Everest sold.

According to SDAC-Ford, the achievement reflects Malaysian consumers’ growing trust and preference for Ford vehicles’ exceptional performance, advanced technology, and superior quality.

A key contributing factor to the company’s success is the steady expansion of its dealership network to raise the bar in the Ford service experience.

Last year, it broke ground on the latest RM12 million Ford Signature dealership in Penang strategically located on Jalan Baru in Seberang Prai.

The state-of-the-art facility spans 46,000 square feet, showcasing a cutting-edge Ford 3S centre that follows the latest Ford Signature Corporate Identity and features 16 service bays and four vehicle display areas. The center will be fully operational by the end of Quarter 2 2024.

SDAC-Ford has also significantly expanded its presence across East Malaysia. Recognising Sabah as the third largest pickup market in the country, the company launched two key dealerships in the state – Ford Kota Kinabalu (Inanam) by Boston Auto Dealership and Ford Kota Kinabalu (Penampang) by Rightpower Corporation.

In Sarawak, the company opened Ford Kota Samarahan, Jimisar Aruna dealership in October 2023, located in the UniVista Commercial Centre, Jalan UniVista Off Jalan Express Way in Kuching.

These openings have solidified the brand’s footprint in East Malaysia, bringing a total of nine Ford dealerships across the area and 38 dealerships nationwide.

Proton sold 13,602 cars in February, S70 sales up by 60.5%

PROTON continued its positive growth trajectory to start the year by reporting 13,602 sales (domestic and export) in February. By doing so, total sales for the first two months grew to 26,484 units, an increase of 3% over the same time period from 2023.

The achievement is particularly noteworthy as automotive sales are traditionally slower at the beginning of the year after the year-end sales push in December.

After the first two months of 2024, total-industry-volume is estimated to have grown by 13.8% year-to-date to 129,353 units as an influx of new brands launching both traditional and EV models generates a lot of buyer interest.

The national carmaker’s market share is forecast to be at 20.5%, placing it comfortably in second position in the overall national automotive sales ranking.

Launched at the end of November 2023, the S70 has unlocked pent up demand and interest from buyers in both domestic and international markets. Sales increased by 60.5% to 2,314 units in February, as production continues to ramp up.

About to enter its 39th year of continuous production, the Saga recorded sales of 6,212 units in February, making it the fifth consecutive month the car has exceeded the 6,000 unit a month barrier.

More impressively, with a total of 12,341 units sold in the first two months of 2024, year-to-date sales for the model are now 10.9% higher than the previous year.

Apart from the S70, other models also ended February as sales leaders for their respective segments. The Persona and the X90 both continued to reign in their categories respectively with 1,859 and 374 units sold, respectively.

The X50 meanwhile ended February in second place for B-segment SUVs with 1,816 units, while the X70 saw an uptick of 19.6% to 445 units. The Iriz added 3.8% to close at 543 units.

Finally, although production has ended for the Exora, 39 units were sold in February and to date, over 194,250 units of the model have been sold, making it the most successful C-segment MPV in Malaysia’s automotive history.

Notably, its export business leapfrogged by 223% to 346 units in February as compared to January this year while year-to-date export growth stands at 50.5% with 453 units sold to overseas markets this far.

Tesla sold a total of one car in South Korea in January

In Malaysia, Tesla is much lauded by electric vehicle (EV) users and enthusiasts alike, but in South Korea, it’s an entirely different story.

According to a report by Free Malaysia Today, the Texas-based EV manufacturer only managed to sell one car, a Model Y, in January due to concerns about safety, pricing, and charging infrastructure.

Data from the Seoul-based research firm Carisyou and the Korea Ministry of Trade indicates that this marked Tesla’s worst sales performance since July 2022, when it sold no vehicles at all.

Carisyou also reported that the number of new EV registrations in the country declined by 80% in January 2023 compared to December 2022.

It is understood that the slow reception for EVs in South Korea is due to higher interest rates and inflation, which have forced consumers to restrain their spending.

Furthermore, concerns about battery fires and a shortage of fast chargers have also contributed to the decline in EV demand there.

Lee Hang-Koo, head of the Jeonbuk Institute of Automotive Convergence Technology said most Koreans who wanted a Tesla car have already bought one.

In fact, some Koreans dislike Tesla and are concerned about the quality of production after learning that some of them are made in China.

Lee also mentioned that many people avoided buying vehicles in January because they were waiting for the government’s announcement of subsidies.

Proton sold 12,882 units in January 2024, their best start to year since 2013

PROTON has announced its sales performance for the month of January 2024, with 12,882 units (domestic and export) sold last month.

According to the national car manufacturer, this marks their best start to a year since 2013. The figure represents a 1.3% increase compared to December 2023 and a gain of 10.3% compared to the same period last year.

Meanwhile, the national automaker’s market share for January is estimated at 19.5%, which is 3.3% higher compared to the previous month.

The Total-Industry-Volume (TIV) is estimated at 66,134 units, which would translate to a decline of 15.6% compared to December that saw the numbers inflated by the traditional year-end push for higher vehicle sales to close 2023.

On individual models, the Saga maintains its popularity with 6,129 units sold, followed by Malaysia’s most popular SUV, the X50, with 2,002 units, and the B-segment sedan leader, Persona, with 1,846 units.

In fourth place is Proton’s newest model, the S70, which recorded sales of 1,442 units last month. Proton says the sedan now has over 8,000 orders, reflecting the strong and positive response it has received from eager customers.

The S70 also made its way to its first export market in Brunei, as 15 units were delivered ahead of its official launch there in February.

Proton’s flagship model, the X90, also performed well with 365 units sold last month, solidifying its position as the leader in the D-segment SUV market.

Isuzu records outstanding sales for 2023, number 1 in the truck segment

ISUZU Malaysia has once again achieved outstanding performance by recording the highest truck sales compared to other brands for the year 2023. This achievement places Isuzu in the number 1 position in the overall truck segment for 10 consecutive years and in the light-duty truck brand segment for 14 consecutive years in Malaysia.

Isuzu’s leading position in the market is reinforced by the overall sales performance of 7,209 units, including light, medium, and heavy-duty trucks for the previous year. This represents a 44.9 percent market share in the overall truck segment in Malaysia.

Meanwhile, the light-duty truck segment recorded sales of 6,864 units, marking the highest sales in Malaysia for that segment.

Isuzu Malaysia recorded a growth of 2.7 percent compared to the previous financial year, demonstrating continuous positive growth for Isuzu Malaysia.

In terms of sales, Isuzu Malaysia achieved a positive growth of 11 percent in the medium-duty truck, heavy-duty truck, and prime mover segments for 2023.

Shunsuke Okazoe, Chief Executive Officer of Isuzu Malaysia, said, “We are extremely proud to achieve this remarkable success once again and to remain the best-selling truck brand in Malaysia. Maintaining this success for over a decade certainly exceeds our expectations.”

“At the same time, we are very excited to know that our continued market leadership clearly demonstrates Isuzu Malaysia’s commitment to providing the widest and most advanced range of trucks to our customers, despite navigating changing industry landscapes.”

“The stability of the economy and the recovery of the supply chain have contributed to the positive growth in the commercial vehicle market, especially in the light-duty truck segment. This positive performance further highlights our presence in this market,” Okazoe added.

Honda Malaysia retains No.1 spot in non-national passenger car segment

HONDA Malaysia announced that it has recorded more than 80,000 units of total sales, achieving its annual sales target for 2023.

This remarkable achievement has enabled Honda Malaysia to retain its No.1 position in the Non-National Passenger Vehicle Segment for the tenth consecutive year since 2014.

According to Honda Malaysia, the year 2023 was one of gradual recovery and a positive outlook. The company launched a total of four new models in the second half of the year, namely the WR-V, City, Civic Type R and CR-V.

The three top-selling models in 2023 are City, HR-V and City Hatchback contributing 30%, 25% and 13% respectively to the overall sales. In addition, the WR-V, HR-V, CR-V and Civic emerged as No.1 in their respective segments.

Honda Malaysia Managing Director and Chief Executive Officer, Mr. Hironobu Yoshimura said, “2023 proved to be a challenging year where we faced a competitive market. However, Honda Malaysia managed to overcome and achieved our sales target in 2023 with strong support from our dealers and the Malaysian Government.

Additionally, we would like to express our heartfelt gratitude to all Honda customers who have played a crucial role in this achievement through their unwavering support towards the Honda brand.”

Honda Malaysia’s remarkable achievement this year was largely contributed by the launch of the WR-V in July. The small SUV received overwhelming response from the market with more than 7,800 units sold within the first six month of launch. The RS variant is the largest contributor, accounting for 60% of the total sales to-date.

Besides that, sales for e:HEV hybrid models also increased from more than 4,100 units in 2022 to more than 7,700 units in 2023, representing a 87% growth. In 2023, Honda’s e:HEV models contributed 28% to overall hybrid sales in Malaysia, which is a significant contribution to the growth of xEV’s in the country.

VinFast failed to achieve 2023 sales target

Throughout 2023, Vinfast has successfully sold nearly 35,000 units of electric vehicles (EV). A new record was also set in the fourth quarter (Q4) of 2023, where Vinfast managed to sell a total of 13,512 units.

However, despite the impressive figure of 34,855 units compared to previous achievements, the annual sales volume still falls short of the set target of 40,000 units.

The Vietnamese manufacturer claims that this figure is due to the slow acceptance rate of EVs in some regions, as well as intense competition.

A Reuters report mentioned that the majority of Vinfast’s sales come from the Vietnamese market, where 60 percent of distribution in the second and third quarters was contributed by the Green SM taxi operator and the vehicle leasing company owned by VinFast’s CEO.

According to Vinfast’s Deputy CEO of Sales and Marketing, Tran Mai Hoa, “We have seen a significant increase in vehicle distribution in the fourth quarter of 2023 compared to the previous quarter. However, the slow adoption rate of EVs in some regions, as well as intense competition, have led to a smaller distribution volume than we expected.”

VinFast is now preparing to establish battery production and assembly facilities in India, along with exploring new markets in the Middle East, Latin America, and Asia, including Indonesia.

Volvo Car Malaysia sells even more EV in 2023

VOLVO Car Malaysia wraps up the 2023 calendar year with an increase in electric vehicle (EV) sales, which accounted for 18 percent of the total sales. This also represents a 37 percent increase compared to the previous year.

Out of the total sales, the Recharge model range (comprising fully electric EVs and PHEVs) accounted for 71 percent of the sales.

This percentage also places Volvo Car Malaysia in the top 15 globally, with the Recharge model sales averaging 38 percent.

Volvo Car Malaysia sold 2,694 cars in 2023, compared to 3,194 in 2022, which was a year of recovery for the automotive industry after the pandemic.

Charles Frump, Managing Director of Volvo Car Malaysia, said, “2023 marked a transformational year for us as we transitioned towards a fully electric future.

“Despite a drop in sales figures, we are proud to maintain our market share even without new launches last year.

“After seven years of growth until 2023, we anticipate continued growth in 2024 with the arrival of fully electric products,” Charles added.

On a global scale, Volvo Cars achieved a record sales figure for 2023 with 708,716 units sold, representing a 15 percent increase compared to 2022.

Chery Malaysia sold 4,501 cars from September to December 2023

CHERY Malaysia has announced that it sold a total of 4,501 vehicles in 2023, a somewhat remarkable achievement given that the company only began delivering the Omoda 5 and Tiggo 8 Pro in September.

Speaking at the company’s annual business briefing, Chery Auto Malaysia Vice President Lee Wen Hsiang said over 80% of the total sales was contributed by the Omoda 5.

According to Chery Auto Malaysia’s Vice President, Lee Wen Hsiang, over 80 percent of this total was contributed by the Omoda 5.

Lee added that Chery also conducted a sales satisfaction survey where over 1,000 customers of the brand gave it an exceptionally high score of 94 out of 100.

Lee also said that despite facing initial comments when Chery was first introduced to the Malaysian market, the brand has steadfastly prioritised resolving customer issues and will continue doing so in 2024.

Among the efforts made to achieve this target is through expanding its network nationwide. Chery Auto Malaysia Network Development Director Soon Boon Ping, stated that the company currently has 32 outlets operating nationwide with a workforce of 550 employees.

“By at the end of 2024, we hope to have at least 48 outlets in operation and that will also contribute to 70% increase in our 3S and 4S centres,” said Soon.

On product, Chery Auto Malaysia Product Director Michael Chew shared that the company will launch four new models in 2024, starting with the Omoda E5 in March.

The electric SUV will be followed by the Tiggo 7 Pro in the second quarter and two more models in the fourth quarter. Notably, one of the two yet-to-be-named models will be an “affordable” and “higher volume” car for the rakyat. Could that be the Tiggo 4 Pro that was previewed back in October 2022?

UMW Toyota sold 108,107 cars in 2023, 7% higher than year before

UMW Toyota Motor (UMWT) has announced that it successfully sold 10,402 vehicles in December 2023.Of the monthly sales figure, 10,079 units were Toyota vehicles, while 323 units were Lexus vehicles.

With this tally, UMWT’s total year-to-date sales as of December 2023 stands at 108,107 units, an increase of 7% than the 101,035 units posted in 2022.

The company also said it recorded 1,342,130 returning customers for aftersales services in 2023, showcasing a commitment to customer satisfaction and efficiency in automotive care.

“With heartfelt gratitude to all our customers for their unwavering support, this year-end, UMWT renews our commitment to ‘Move Your World.” said Datuk Ravindran K., President of UMWT.

“We persist in our efforts to offer an enriched mobility experience through our Toyota cars and extend access to ownership for potential customers.

“Our commitment to achieving excellence and fostering innovation in the automotive industry remains unwavering, ensuring the best offerings for our drivers and stakeholders,” he added.

Ravindran further stated that UMWT plans to introduce more models, particularly with an emphasis on xEV technologies. This is to strengthen its commitment to support Malaysia’s ambitious goal of achieving net-zero greenhouse gas emissions by 2050.