The MAA said the decline in sales happened because the consumers adopted wait and see attitude for year-end promotions.
Compared to 2023, Production Down 16 Per Cent and Sales Down 24 Per Cent
Production and sales numbers of commercial vehicles in Malaysia suffered a setback in November 2024.
According to data released by the Malaysian Automotive Association (MAA) on December 13th, 2024, commercial vehicle production was down 16 per cent compared to 2023. Meanwhile, sales were down 24 per cent, also compared to 2023.
The same fate also befell passenger vehicles, with production down 10 per cent and sales down 6 per cent, both compared to the previous year.
The MAA stated that the Total Industry Volume (TIV) for November 2024 was 3.3 per cent lower than October 2024 (69,859 units). This happened because the “consumers adopted wait and see attitude for year-end promotions”. However, the TIV for Year-to-Date November 2024 was actually 1.4 per cent higher than the similar period in 2023.
It was expected that the TIV for December 2024 would be higher than November 2024. According to the MAA, aggressive year-end promotions would be the key to increasing the numbers.
