2024 Vehicle Sales of Malaysia

Malaysia’s vehicle sales in 2024 increased by 2.1% from the previous year to 816,731 units, setting a record high for the third consecutive year (announced by MAA). In addition to economic growth and stable policy interest rates, the elimination of order backlogs by local manufacturers are cited as reasons for the overall market expansion. Passenger car sales went up by 7.9% year-on-year to 475,005 units, a record high, which is attributed to increased car commuting as employment opportunities become more stable. Perhaps because of this trend, local OEM Perodua, which has an advantage in the low-priced car segment, saw the largest increase in unit sales.