New vehicle sales in Malaysia declined by 4 percent with 62,833 units sold in February. This, according to the Malaysian Automotive Association (MAA) is primarily due to the shorter working month caused by the Chinese New Year celebrations.
Despite this, passenger vehicle sales showed a 3 percent improvement with 57,979 units sold, compared to 56,433 units in February 2023, while sales of commercial vehicles dropped by 32 percent to 4,854 units from 7,128 units.
Compared to February last year, sales experienced a slight 1 percent decrease, totalling 62,833 units compared to 63,561 units. According to MAA’s statement, the year-to-date sales volume for February 2024 reached 128,332 units, marking a 13 percent increase from the same period in 2023, which recorded 113,729 units sold.
The MAA reported that 65,611 vehicles were manufactured in February 2024, showing a 3 percent rise from the 63,798 units produced in February 2023. Passenger vehicle production increased by 3 percent to 61,935 units compared to the same month last year, while commercial vehicle production decreased by 7 percent to 3,676 units from 3,955 units previously.
Looking ahead to March 2024, MAA anticipates higher sales compared to February 2024, attributing this expectation to increased deliveries by companies aiming to close their financial year by March 31, 2024, and promotional campaigns during the Hari Raya festive season.
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