The Malaysian Automotive Association (MAA) has announced a total of 67,532 vehicles were sold in the month of November 2024. This represents a decrease of 3.3%, or 2,327 units, from the 69,859 units registered in October 2024.
The association attributed the drop to consumers adopting a “wait and see” attitude in regards to year-end promotions. It should be noted that last month’s figure is 8% less than the same corresponding month in 2023, which saw 73,262 units registered.
Even so, the total industry volume (TIV) as of the end of November 2024 is 1.4% higher than the same period in 2023, with 731,534 units sold against 721,392 units. Last month, the association revised its 2024 TIV forecast upwards to 800,000 units (from 765,000 units).
As such, we are 91.4% of the way to hitting that target with just one month left to go. For the month of December 2024, the association expects aggressive year-end promotions to boost sales and TIV above November 2024’s figures.
In terms of production, 60,927 units were recorded last month, which is 10% less than the 67,743 units reported for November 2024. TIV production this year is currently at 725,173 units, 2% higher than the 708,376 units recorded in the same period in 2023.
The post Nov 2024 Malaysian vehicle sales down 3.3% – MAA appeared first on Paul Tan's Automotive News.
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