As expected, new vehicle sales dipped in February 2024 compared to January 2024.
According to the Automotive Association of Malaysia (AAM), there were 62,833 units sold in February 2024, compared to 65,499 in January 2024. It was a 4% decrease, due to the shorter month and shorter working days following the Chinese New Year holiday.
Of that number, 57,979 were passenger vehicles, while another 4,584 were commercial vehicles. When compared to the same period last year, a total of 56,443 passenger vehicles, and 7,128 commercial vehicles were sold.
Total sales as of February 2024 were 128,332 units, which is 13 percent higher than 113,729 units in the same period in 2023.
In terms of manufacturing, vehicle production rose 3% to 65,611 in February 2024 compared to 63,798 in February 2023.
Of that number, 61,935 units were passenger vehicles (up 3 percent from 59,843 units in the same month last year), while the remaining 3,676 units were commercial vehicles (down 7 percent from the previous 3,955 units).
New vehicle sales are expected to increase in March 2024, following fast deliveries by the company as the financial year will end on March 31, 2024, as well as various Hari Raya Aidilfitri promotional campaigns.
