July vehicle sales post 24% monthly jump

PETALING JAYA: Local automobile sales for July 2024 totalled 71,730 units, marking a 24% increase from the 58,046 units recorded in June.

The Malaysian Automotive Association said the sales take the year-to-date (y-t-d) vehicle sales to 462,088 units, representing a 7% increase compared to the corresponding period in 2023.

The higher y-t-d sales figure is attributed to a longer working month and the launch of new models by various marques.

Passenger vehicle sales saw a 10% growth y-t-d, reaching 422,640 units, while commercial vehicle sales dropped by 13% to 39,448 units.

Analysts attribute the decline in commercial vehicle sales to the normalisation following pent-up demand over the past couple of years.

For July 2024, passenger vehicle sales increased by 11% to 65,781 units from 59,024 units in the previous corresponding month, while commercial vehicle sales grew marginally by 3% to 5,949 units, up from 5,766 units in July 2023.

Production wise, Malaysia produced about 70,295 vehicles in July 2024, up 5% from 66,862 units in July 2023.

Passenger vehicle production grew by 6% to 66,010 units from 62,558 units, while commercial vehicle production dipped by 0.4% to 4,285 units from 4,304 units in July 2023.