Feb 2024 vehicle sales lower at 62,833 units

KUALA LUMPUR: Malaysia’s new vehicle sales slid 4 per cent to 62,833 units in February 2024 from 65,499 units in January 2024 in a shorter working month due to the Chinese New Year festive holidays, according to the Malaysian Automotive Association (MAA).

MAA said in February, 57,979 unit passenger vehicles were sold, improving by 3 per cent from the 56,433 units sold in February 2023 while sales of commercial vehicles declined 32 per cent to 4,854 units from 7,128 units.

On a yearly basis, February's sales shrank 1 per cent to 62,833 units compared with 63,561 units in the same month last year.

"Year-to-date sales volume for February 2024 was 13 per cent higher (at 128,332 units) than (113,729 units) the corresponding period in 2023," it said in a statement today.

In terms of production, MAA said 65,611 units of vehicles were produced in February 2024, an increase of 3 per cent from 63,798 units in February 2023.

Of that amount, 61,935 units were passenger vehicles (up 3 per cent from 59,843 units in the same month last year), while the remaining 3,676 units were commercial vehicles (down 7 per cent from 3,955 units previously).

On the outlook for March 2024, MAA expects higher sales than in February 2024, due to the rush for deliveries by companies having their financial year ending March 31, 2024 and Hari Raya festive season promotional campaigns.
Autos News