MAA: May 2024 New Car Sales Rebounds Strongly By 18%

The monthly figures from the Malaysian Automotive Association (MAA) are in and, according to the association, new car sales in Malaysia totalled at a healthy 68,665 units shifted in May. Production, on the other hand, also rose to a total of 74,174 units produced last month too.

On the sales front, passenger vehicles accounted for 62,862 units, whilst commercial vehicles saw just 5,803 units shifted. The latter marks a 15% reduction from the same period the year before, but passenger car sales instead marked a healthy 11% year-on-year increase.

Contrasted against the previous month (April 2024), new vehicle sales in May 2024 marked a healthy 18% increase, thus signifying the industry’s strong rebound. MAA also notes that the stimulating figures stemmed from strong performances by national brands Proton and Perodua.

Cumulative total sales charted from Jan to May 2024 now stands at 328,901 units, which in turn marks an 8% rise from the same five-month span in the previous year.

MAA also notes that local new vehicle manufacturing totalled at 74,174 units in May 2024.

As for local vehicle assemblies, cumulative output for the first five months of 2024 stood at 341,500 units, marking a 12% year-on-year increase. MAA credits this from the automotive industry’s supply chain being normalised, easing from last year’s parts supply shortage issue.

Looking ahead, the association expects June 2024’s sales outlook to maintain at a similar pace as May 2024’s.