MAA: Malaysia Vehicle Sales Saw 4% Slump In Nov 2023

Malaysia vehicle sales and deliveries dipped by 4% in Nov 2023 according to MAA.

The Malaysian Automotive Association (MAA) has released vehicle sales data for Nov 2023 earlier today, and the association noted a total of 71,908 vehicles delivered to buyers.

This marks a 4% dip compared to the 74,896 units the industry delivered in Oct 2023. To date, MAA has recorded a total sales of 718,748 units thus far. Said year-to-date (YTD) figure as of Nov 2023 is exceptionally close to the association’s total industry volume (TIV) forecast of 725,000 units for this year.

With that, MAA reckons the local industry will see no issues towards reaching said forecasted TIV figure before the end of 2023 – it’s just shy by roughly 6,000 units.

Total industry sales and production volume recorded by MAA as of Nov 2023.

MAA Adds that much of Nov 2023's sale figures were driven by national carmakers Perodua and Proton.

Additionally, MAA’s Nov 2023 tally also indicates yet another month where monthly TIV exceeded 70,000 units. Much of which is, according to the association, is contributed by national carmakers Proton and Perodua as both continue to fulfil backlog orders and, simultaneously, deliver on year-end promotions.

Overall, the first 11 months of 2023 sees the total YTD sales figure chart a 12% improvement over the same corresponding period in 2022 - 644,534 units.

Industry production volume stood at 67,743 units at the end of Nov 2023, adds MAA.

As for industry production volumes, Nov 2023 saw MAA record 67,743 units, thus bringing the YTD total for which to 708,376 units – 12% more than the same period in 2022.

Looking ahead, MAA expects Dec 2023 sales to be similar as Nov 2023’s level. Backing which is the continuation of aggressive year-end promotions by various automakers that sees their financial year ending on Dec 31.