Malaysia's vehicle sales soared by 31% y-o-y in January 2024 - MAA

Malaysian vehicle sales increased 31% in January compared to the previous year, but fell month on month due to the year-end rush of deliveries and bargains, The Malaysian Automotive Association (MAA) reported.

The total industry volume was 65,499 units in January 2024, compared to 50,168 units in the same month in 2023. Volume was 16% lower than in December 2023, the association added.

Sales of passenger vehicles reached 59,394 units in January 2024, up 33% from 44,586 units in the same month the previous year. Meanwhile, sales of commercial vehicles increased 9% year-over-year (y-o-y) to 6,105 units from 5,582 units.
In January of this year, passenger vehicle production increased by 31% to 71,666 units from 54,663 units, while commercial vehicle output increased by 14% to 4,411 units from 3,864 units in the same month of 2023.

MAA also predicted that February 2024 sales would be lower than January 2024 due to the shorter working month following the Chinese New Year holidays.