Malaysia’s Vehicle Sales up 21.97 Pct on Year in May

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Malaysia’s vehicle sales rose 21.97 percent to 61,795 units in May from 50,663 units a year ago, said the Malaysian Automotive Association (MAA) on Friday.

MAA said in a statement that the total industry volume (TIV) in May was 32.7 percent higher as compared to 46,583 units in April.

According to MAA, the higher TIV of May was due to multiple factors, including fulfilment of backlogged orders, the bookings received for new model launches, as well as the strong sales of two national brands.

As a result, the January-May TIV stood at 300,978 units, 12.26 percent higher than 268,115 units a year earlier.

Meanwhile, the total car production in May jumped 31.1 percent to 64,930 units from 49,154 units a year ago.

For January to May, the car total production volume (TPV) stood at 304,484 units, which was 18 percent higher than 258,048 units in 2022.

As for June, MAA opined that the domestic economic environment remains mostly supportive. It believes that the demand for new motor vehicles is still resilient due to high backlogged orders.

However, it noted that the registration volume might be slightly moderated.