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MAA Reports 4% Decline in Malaysian Vehicle Sales for November 2023

18-Dec-2023



Data on car sales for November 2023 has been made public by the Malaysian Automotive Association (MAA), showing that 71,908 vehicles were delivered to customers. This increases the year-to-date (YTD) total to 718,748 units, which is 4% less than October 2023 (74,896 units).

By the end of November 2023, the association's total industry volume (TIV) estimate of 725,000 units for this year is remarkably close to the YTD level. With one month remaining, it should not be difficult to accomplish the predicted TIV because just little more than 6,000 units are required to obtain that amount.


The November 2023 total, according to MAA, represents yet another month in which the monthly TIV surpassed 70,000 units. It was further said that national manufacturers Perodua and Ponton are mostly responsible for this, as they are still fulfilling backlog orders and running year-end marketing efforts.

In addition, the YTD sales for the first 11 months of 2023 are 12% more than the 644,534 units sold during the same period in 2022. Regarding production, the total for November 2023 was 67,743 units, and the year-to-date total was 708,376 units, which represents a 12% increase over the same month in 2022.

The association anticipates that sales in the last month of December 2023 will resemble those in November 2023, supported by the persistence of strong year-end discounts by businesses whose fiscal year ends on December 31, 2023.
 
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