September 2023’s Malaysian Vehicle Sales, A Decline In Numbers

The Malaysian Automotive Association (MAA) has reported a decline in new vehicle sales for the month of September 2023.

According to the entity, this month’s figure is at 68,156 units, a 6.4% lower Total Industry Volume (TIV), compared to August 2023’s 72,809 units.

As for the Total Industry Production (TIP) volume, it peaked at 69,133 units for September 2023. Slightly higher than August 2023’s 67,912 units.

Elsewhere, the total vehicle sales for September 2023’s Year-To-Date (YTD) figures maxed at 571,767 units. 11% higher than September 2022’s 514,449 units.

This hiccup is said to be attributed to the general consumers adopting a ‘wait and see’ attitude, in anticipation of incentives under the National Budget 2024 announcement.

With the new budget system in play, MAA forecasts that the sales for October 2023, is likely to be highly similar to September 2023’s records.