According to media reports, data from the Malaysian Automotive Association (MAA) reveals that new car sales in Malaysia dropped from 72,844 units in August of last year to 71,162 units in August 2024, representing a decline of 2%.
Last year, Malaysia's total vehicle sales increased by 11% year-on-year, reaching a record 799,731 units. However, the automotive market in the country has not fared as well this year. Driven by strong consumer spending, the country's economic growth rate rose from 4.2% in the first quarter to 5.9% in the second quarter. The MAA anticipates that the growth rate of new car sales will slow in the second half of the year, with an estimated overall decline of 4% to 765,000 units.
In the first eight months of 2024, Malaysia's cumulative vehicle sales increased by 6%, from 503,783 units last year to 533,301 units, with passenger vehicle sales rising by 8% to 488,277 units, while commercial vehicle sales decreased by 14% to 45,824 units.
So far, the total automotive production in Malaysia has increased by 8% year-on-year to 536,313 units, up from 497,309 units during the same period last year.
In the first eight months of 2024, Proton's global sales fell by 3% to 101,489 units, of which approximately 1,800 units were exports. To date, Proton's best-selling model remains the Saga, with deliveries of 48,904 units, a 7% year-on-year increase. This is followed by the Geely-based X50 compact SUV with 15,229 units delivered, the Geely-based S70 sedan with 13,755 units, and the Persona sedan with 13,116 units. The automaker is preparing to launch its first fully electric vehicle, the Geely-based e.MAS 7, by the end of this year.
Earlier this month, Proton announced plans to start exporting CKD vehicles to Egypt in the fourth quarter of 2024, with plans to export 16,000 CKD vehicles to local assembler Ezz Elarab Elsewedy Automotive Factories (ESAF) over the next two years.
UMW Toyota Motor reported that total sales for Toyota and Lexus in Malaysia declined by 2% year-on-year to 55,800 units in the first seven months of this year. The company launched the 2024 Lexus LM in May and followed up with the RZ450e electric vehicle and LBX hybrid model in July. Last month, the company began accepting orders for the facelifted Hilux and Fortuner models in the country.
