The Malaysian Automotive Association (MAA) reported a 10 per cent increase in new vehicle sales, with figures rising from 64,290 units in February 2024 to 71,052 units in March 2024.
Commercial Vehicle Production Experience Huge Drop in March
According to MAA, this surge was attributed to companies rushing deliveries before the end of their financial year on 31st March 2024, as well as promotional campaigns for the Hari Raya festive season.
However, passenger vehicle sales in March 2024 experienced a nine per cent decline, dropping to 64,760 units from 70,940 units in March 2023. Similarly, sales of commercial vehicles also saw a significant decrease, falling by 21 per cent to 6,292 units from 7,941 units
In March 2024, Malaysian car production saw a 12 per cent decrease compared to the previous year, totalling 66,923 units. This included 63,778 passenger vehicles and 3,145 commercial vehicles.
Commercial vehicle production for the first three months of 2024 experienced a huge drop, decreasing by 28 per cent to 3,145 units as compared to the same period of previous year.
MAA anticipates that April 2024 sales will be lower than March 2024 due to the shorter working month caused by the Hari Raya festive holidays.
