MAA: Increased xEV Adoption Charged Industry’s 2024 Sales
KS
21-1-2025
Following up on the Malaysian Automotive Association (MAA) 2024 vehicle sales report, which highlighted a record-breaking year, electrified vehicles (xEVs) have shown significant growth.
Based on the figures released by the association, xEVs captured a larger share of the total industry volume (TIV), thus underscoring their growing importance in the local automotive landscape.
Sales of xEVs, which covers battery electric vehicles (BEVs) and hybrid vehicles, reached 45,562 units in 2024. This represents a 19% increase from 2023’s 38,214 units.
BEVs alone saw a significant surge by 45% to 14,766 units. This, according to MAA, was driven largely by the government’s tax incentives and an influx of new models, particularly from Chinese manufacturers.
Meanwhile, hybrid vehicles continued to dominate the xEV category, with 30,796 units sold in 2024. Their appeal lies in their ease of adoption and suitability for consumers transitioning from traditional internal combustion engine (ICE) vehicles.
The strong performance of BEVs can be also attributed to the ongoing full exemptions on import and excise duties for fully imported (CBU) EVs. However, these incentives are set to expire by end of 2025, creating uncertainty about the market’s trajectory.
From which, MAA emphasised the importance of extending these incentives till 2030 to meet the government’s target of 20% EV adoption. Despite this progress, MAA also highlighted the limited availability of EV charging infrastructure, especially in less developed areas, citing that this could hinder widespread adoption and erode consumer confidence in EVs.
The government’s petrol subsidy rationalisation, meanwhile, is expected to drive EV adoption further, especially amongst higher-income T15 households affected by the policy. MAA anticipate sales of vehicles with large-capacity engines are likely to drop. However, this shift may not significantly impact TIV, as it does not represent the broader market.
Locally assembled (CKD) models play a critical role in making xEVs more accessible. Currently, the market relies heavily on imported models, which limits cost competitiveness. Adding to this challenge is the impending revision of the Open Market Value (OMV) excise duty calculation planned for Jan 2026.
Once implemented, the raised OMV could raise CKD vehicle prices between 10% to 30%. MAA is actively engaging with the government to address this issue and mitigate its impact, especially as the government encourages more brands, including NEV manufacturers, to introduce CKD offerings in Malaysia.
According to MAA, hybrid vehicles remain a crucial component of Malaysia’s electrification efforts. Their larger market share demonstrates their effectiveness in bridging the gap between ICE vehicles and fully-electric (BEV) options. MAA also advocates for a structured and sustainable hybrid incentive program to avoid the pitfalls of past hybrid initiatives, which ended in 2014 leading to hybrid sales stagnation.
Looking ahead, MAA also remains optimistic about the future of xEVs in Malaysia but underscores the importance of sustained government support and industry collaboration. The rising demand for BEVs and hybrids is a promising sign, but overcoming infrastructure and policy hurdles will be critical.
With collective effort, Malaysia can secure its position in the global EV ecosystem while achieving its electrification goals.
Gallery







Written By
KS
More then half his life spend being obsessed with all thing go-fast, performance and automotive only to find out he's actually Captain Slow behind the wheels...oh well! https://www.linkedin.com/in/kumeran-sagathevan/
JPJ Running Numbers
KUALA LUMPUR
VNR3014
SELANGOR
BSC4648
JOHOR
JXR5234
PULAU PINANG
PRM8154
PERAK
ANT4917
PAHANG
CFA9201
KEDAH
KFY1182
NEGERI SEMBILAN
NEE5894
KOTA KINABALU
SJJ3829
KUCHING
QAB7401K
Last updated 07 Feb, 2025
Fuel Price
Petrol
RON 95
RM 2.05
RON 97
RM 3.43
RON 100
RM 5.00
VPR
RM 6.23
Diesel
EURO 5 B10
RM 3.18
EURO 5 B7
RM 3.38
Last updated 06 Feb, 2025
Related News
Competition Between Non-National, Chinese Carmakers Intensifying
Non-national automakers continue to face intense competition from Chinese brands in Malaysia, with 2.3% fewer cars sold in 2024.
23-01-2025
MAA, MARii Partner To Host Alternate-Year Motor Shows
MAA and MARii have signed a MoU to collaborate on organizing automotive exhibitions and motor shows, alternating each year.
21-01-2025
New Vehicle Sales Hit New All-Time High in 2024 at 816,474 Units
Sales of new vehicles in 2024 recorded at 816,474 units, surpassing the 800,000 mark for the first time in Malaysia’s history.
21-01-2025
Malaysia's Vehicle Market Dropped By 8% In Nov
TIV dropped to 67,532 units from 73,262 units in the same month the previous year in Nov.
13-12-2024
KLIMS 2024 Draws 183,221 Visitors with Nearly 70 Brands Participating
The 10th edition of KLIMS 2024 has drawn over 183,221 visitors, with nearly 70 automotive & mobility brands participating.
13-12-2024
Vehicle Sales Increased by 20% in October 2024 – MAA
October saw a 20% increase in Total Industry Volume from 58,032 units in Sept to 69,859 units last month, MAA reports.
13-11-2024
Sept Sees 15% Decline In TIV - MAA
MAA reported that September's TIV slumped by 15% to 58,032 units from 68,174 units in the same month last year.
15-10-2024
Malaysia's Aug Car Sales Steady Despite Small Drop
Malaysia's automotive industry remains strong in 2024, with 563,926 total vehicle sales in Aug, while electric vehicle (EV) sales show continued growth despite a slight dip.
30-09-2024
Latest News
Proton Breaks Ground For New EV Production Plant
Proton breaks ground for its first dedicated EV production plant that will be operational by year-end for e.MAS 7 CKD.
07-02-2025
BYD Atto 2 Makes Official Debut In Europe – ASEAN Next?
The subcompact BYD Atto 2 has made its European debut, featuring two variants with up to 312 KM of WLTP range.
07-02-2025
Stellantis Patents 'EV Exhaust' to Tackle Battery Fire Risks
Stellantis patents 'EV exhaust' system that safely vent gases from battery thermal runaway, enhancing fire safety in EVs.
07-02-2025
Volkswagen ID.One Teased as Marque’s New Entry-Level EV
Volkswagen has an entirely new entry-level EV for Europe, and it will likely be named the ID.One.
06-02-2025
Vanwall Reimagines Ioniq 5 with Lancia Delta Flair
Vanwall revives its racing legacy by transforming the Hyundai Ioniq 5 with Lancia Delta-inspired design and electrifying performance.
04-02-2025
BYD Atto 3 Facelift Spied in China – Minor Design Change, Q2 2025 Debut
The updated BYD Atto 3 EV SUV was recently spotted in China, featuring some minor design tweaks.
04-02-2025
JMEV 01: China’s Answer to the Lightweight Sports EV Cleared for Launch
JMEV 01 breaks cover as it is cleared for launch to take on MG Cyberster in the affordable electric sportscar space.
04-02-2025
Deepal S09 Unveiled as Brand’s First Flagship SUV
The all-new Deepal S09 breaks cover as the brand's first flagship three-row SUV that packs an REEV powertrain.
03-02-2025
Show More
trending_flat