New Vehicle Sales Declined by 18% in April 2024 – MAA

MAA reports that new vehicle sales have declined by 18% at 57,991 units in April 2024 compared to the previous month.

The Malaysian Automotive Association (MAA) has released the report for the country’s vehicle sales record in April 2024. According to the said report, sales figures for April this year have declined by 18% compared to last month, with the total industry volume (TIV) reading at 57,991 units compared to March 2024’s TIV figure of 71,052.

A total of 53,253 passenger vehicles and 4,738 commercial vehicles were sold in April 2024.

Citing a short working month due to the Hari Raya festive holidays, the April 2024 new vehicle sales figure comprised a total of 53,253 passenger vehicles and 4,738 commercial vehicles. While the former segment recorded a decent 25% increase over last year’s April figures, sales for commercial vehicles dropped by 9% in April 2024 compared to last year’s April.

Despite the decrease in vehicle sales compared to last month, April 2024’s year-to-date (YTD) figure records a decent increase of 8% compared to April last year, with a total of 260,236 vehicles sold so far this year compared to the 240,417 units recorded the year prior.

Moving on to the vehicle production volume, April saw a slight decrease of 15% from March this year, with a total of 56,895 units being produced in April compared to 66,923 units in the month prior. The YTD production figure, however, tells a different story, as April 2024 saw a slight 12% increase in production volume compared to April last year at 276,326 and 239,554, respectively.

As for the May 2024 outlook, MAA expects both sales and production volumes to be slightly higher compared to April 2024.