According to the MAA, May 2024 saw a decline in production and sales of commercial vehicles compared to last year.
Despite the Dip in Production and Sales of Commercial Vehicles, the Market Performed Strongly
The Malaysian Automotive Association (MAA)’s findings in May 2024 showed that there was an increase in production and sales of passenger vehicles compared to last year. However, the same thing cannot be said for commercial vehicles.
According to the data provided by the association, there was a 16 per cent increase in passenger vehicles production from May 2023 (60,391) to May 2024 (70,132). Sales were also up by 11% from 56,448 in May 2023 to 62,862 in May 2024.
Meanwhile, production and sales of commercial vehicles from the same period experienced a decline of 11 and 14 per cent respectively.
Despite the decline in production and sales of commercial vehicles, the overall market still performed strongly, indicated by the 18 per cent increase in the total industry volume (TIV) from April 2024 to May 2024. The TIV for Year-to-Date May 2024 also experienced an increase of 8 per cent compared to the year before.
The MAA noted that May 2024 was a longer working month compared to the previous month and national makes performed exceptionally during the period. It expected the sales in June to be maintained at May 2024 level.
