New vehicle sales in Malaysia fell by 15% to 58,032 units in September 2024 from 68,156 units in the same month of last year, according to registration data released by the Malaysian Automotive Association (MAA).

The vehicle market this year has come up against strong year-earlier data, after sales hit a new record high of almost 799,731 units in 2023. Economic growth in the country accelerated to 5.9% year-on-year in the second quarter, up from 4.2% in the first quarter, driven by strong consumer spending. Earlier this year the MAA said it expected a much slower second half, after sales grew by 7% in the first half of 2024, with full-year volumes forecast to fall by 4% to 765,000 units.

In the first nine months of 2024 sales increased by 4% to 594,037 units from 571,957 in the same period of last year, driven by a 5.5% rise in passenger vehicle sales to 541,199 units while commercial vehicle sales fell by just over 10% to 52,838 units. Total vehicle production in the country rose by 4.5% to 591,696 units year-to-date compared with 566,422 units previously.

Proton’s global sales fell by 3% to 112,758 units in the first nine months of 2024, including an estimated 1,900 exports. The Saga remained by far the company’s best-selling model with deliveries up by 5% at 54,006 units; followed by the Geely-based X50 compact SUV with 17,000 units; the Geely-based S70 sedan with 14,768 units; and the Persona sedan with 14,411 units. The automaker is preparing to launch its first battery electric vehicle, the Geely-based e.MAS 7, by the end of the year.

In September Proton announced plans to begin CKD exports to Egypt in the fourth quarter of 2024, with a total of 16,000 units scheduled to be shipped to local assembler Ezz Elarab Elsewedy Automotive Factories (ESAF) in the following two years.

UMW Toyota Motor reported a 6% decline in combined Toyota and Lexus sales to 72,000 units in the first nine months of the year. The company launched the new 2024 Lexus LM in May, followed by the RZ450e EV and the LBX hybrid model in July. It also began taking orders for the revamped Hilux and Fortuner models in August.

Perodua’s sales increased by 16% to 236,644 units in the first eight months of 2024, with September data not yet available, driven by strong domestic demand for the Bezza model and a ramp up in exports.

"Malaysia sales drop 15% in September" was originally created and published by Just Auto, a GlobalData owned brand.

 

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