Perodua Claims 1,700 QV-E Bookings, But Data Shows Only 182 Are Actually Registered

The narrative surrounding the Perodua QV-E just took a massive twist. According to a recent investment bank research report, the national automaker’s first-ever electric vehicle has quietly accumulated a whopping 1,700 bookings.

At first glance, the timing makes perfect sense. One would naturally assume that Perodua's recent aggressive price cut, dropping the entry point to RM63,499 with a Battery-as-a-Service (BaaS) lease and finally offering an outright purchase option, sparked a sudden, massive rush to dealerships.

But a deeper look at the timeline reveals a completely different story: those 1,700 orders were secured before the price cut was even announced.

Connecting the Corporate Dots

The 1,700 orders figure didn’t come from a flashy Perodua press release. Instead, it was surfaced in the 1QFY26 Results Review of MBM Resources Berhad (MBMR), published by Hong Leong Investment Bank Bhd (HLIB) on 26 May 2026.

To put that into perspective, Perodua only officially announced the QV-E’s revised pricing structure on 15 June 2026, a full 20 days later.

Why does an MBMR financial report contain Perodua’s internal sales data? The connection is highly strategic:

• Equity Stake: MBMR holds a substantial 22.6% stake in Perodua.
• Retail Powerhouse: MBMR is the main shareholder of Daihatsu Malaysia Sdn Bhd (DMSB), which owns DMM Sales Sdn Bhd (DMMS)—the largest Perodua dealership network in Malaysia.
• Supply Chain: MBMR acts as a major tier-1 component supplier directly to the automaker.

While HLIB’s report notes that the figures are drawn from industry sources rather than an official Perodua press statement, MBMR’s heavy financial and operational integration with the carmaker makes it highly unlikely that these numbers were pulled out of thin air.

The Paper Bookings vs. Real-World Registrations

If the 1,700 figure is accurate, it represents a massive, unannounced win for Perodua. In fact, it is more than double the booking numbers that Perodua President and CEO, Datuk Seri Zainal Abidin Ahmad, hinted at during an interview with Nikkei Asia back in mid-April.

However, this massive order bank highlights a stark disconnect when compared against official government data.

The Reality Check: Out of the 1,700 buyers who placed a booking at the original, highly criticized RM80,000 price point, only 182 units actually made it onto Malaysian roads by the end of May.

Why the Silence, Perodua?

This conservative approach to public relations contrasts sharply with standard industry practice. While competitors frequently leverage booking milestones to build market momentum, Perodua historically prefers to let physical delivery numbers speak for themselves.

However, maintaining complete silence in this instance seems like a missed strategic opportunity. For months, the QV-E has been a frequent target of online skepticism each time JPJ releases its monthly registration updates. Publicly acknowledging a substantial, multi-month order bank would have immediately reframed the narrative, shifting the conversation from a lack of interest to a production and logistics bottleneck. 

Furthermore, revealing this deep baseline demand ahead of time would have provided a logical, market-driven context for the aggressive price restructuring rolled out in June.

By opting not to control the narrative, the automaker essentially allowed public perception to be dictated entirely by slow initial registration data.