Malaysia’s commercial vehicle sector declined in February, but signs point to a possible rebound in March, according to the MAA.
PV Sales Steady amid Production Drop – MAA
Malaysia’s commercial vehicle (CV) segment took another hit in February 2025, with production and sales numbers plunging compared to last year. According to the data released by the Malaysian Automotive Association (MAA), the CV sector, despite signalling a recovery, continued to be affected by the market slowdown.
Commercial vehicle production fell by 20 per cent year-on-year in February this year. Only 2,939 units were rolled out compared to 3,676 units in February 2024. The year-to-date figures even show a worse decline with only 6,064 CVs produced in the first two months of 2025, down 25 per cent from last year (8,087).
Sales performance painted a similarly bleak picture, shrinking 24 per cent compared to February last year. In February 2024, 3,873 units were sold. This year, there were only 3,717. Cumulatively, sales in January and February 2025 stood at 7,122 units, showing a 35 per cent plunge from the 11,011 units sold during the same period in 2024.
In its monthly report, the MAA stated that the bleak situation of the CV market reflects ongoing challenges, such as sluggish business demand, reduced fleet renewals, and macroeconomic uncertainties that heavily affect the logistics and transport sectors.
Meanwhile, passenger vehicles (PV) showed better numbers. While production dipped 7 per cent year-on-year to 58,606 units produced last year, the sales were up 0.1 per cent compared to 60,189 units sold in 2024. However, the year-to-date sales of PV fell 12 per cent, painting a similar reflection of the overall market situation.
Recovery in March?
The numbers might look gloomy, especially for the CV segment. However, February 2025 showed a strong month-to-month rebound compared to January. Total Industry Volume (TIV) rose by 31 per cent compared to January’s figure of 48,732 units. The MAA said this was an indication that the market had started to stabilise.
Further, the MAA expected sales momentum to build in March, counting several factors likely to drive a surge. The first factor, consumers were predicted to push for the delivery of their vehicles before the Hari Raya holidays. At the same time, companies were expected to clear stocks before the financial year-end closing on March 31. Also, according to the association, “The month of March is historically known as a high sales month.”
