Stronger vehicle sales growth in October

PETALING JAYA: The sales of motor vehicles have registered strong growth in October 2023, with a total industry volume (TIV) of 74,896 units sold.

This represents an increase of 10% from the 68,156 units sold in September 2023, the Malaysian Automotive Association (MAA) said in a statement.

MAA said the growth recorded was mainly from the passenger vehicle segment, amounting to 67,478 units, which consisted of mostly national makes.

The sales of commercial vehicles, on the other hand, were recorded at 7,418 units.

MAA added that in terms of volume, this marked the second highest monthly TIV for the whole year on record.

“It was also the third time this year the monthly TIV exceeded the 70,000 mark. As of now, the highest monthly TIV achieved was in March 2023 at 78,849 units,” the association said.

It also said the total production recorded in October 2023 stood at 74,191 units, which was incidentally higher than the 69,133 units in September 2023.

The bulk of it consisted of passenger vehicles as well while the number of commercial vehicles produced was 4,716.

Meanwhile, MAA said that for November, it expects sales to be similar to the numbers recorded for October.