We’re back from the Malaysian Automotive Association (MAA) annual briefing and have some big figures to share. Last year was another record year for the automotive industry with 799,731 units sold. This nearly 800k total …
– 10,159 units sold in 2023, up 286% vs 2022; hybrid sales also increased by 40%We’re back from the Malaysian Automotive Association annual briefing and have some big figures to share. Last year was anotherThis 11% growth to beat the previous record was propelled mainly by the passenger car sub-segment, amid a resilient domestic economy and a very much stable socio-political environment, the auto club said in a statement.
Last year, xEV sales jumped 69% from 22,619 units in 2022 to 38,214 units, making up around 5% of the 2023 TIV. Of this total, 28,055 units were hybrids while 10,159 units were battery electric vehicles. That means the year-on-year growth for hybrids is 40%, while EV growth is a massive 286% fromMAA says that its sales data are only from the association’s members.
For 2024, MAA believes that the xEV demand and interest will continue to grow thanks to government support to promote the use of these ‘greener’ cars, as well the introduction of more new xEV models. MAA president Mohd Shamsor Mohd Zain said that this year, the forecast is for xEVs to contribute 9-10% of TIV, and 2% for full EVs. Based on MAA’s 2024 TIV forecast of 740,000 units, that would be up to 74,000 units for xEVs and 14,800 units for EVs.Danny Tan loves driving as much as he loves a certain herbal meat soup, and sweet engine music as much as drum beats. He has been in the auto industry since 2006, previously filling the pages of two motoring magazines before joining this website.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BMI: Malaysia’s health expenditure to grow at CAGR of 8.3% from 2023 to 2028KUALA LUMPUR: BMI, a Fitch Solutions company, has forecast Malaysia’s health expenditure to grow at a compound annual growth rate (CAGR) of 8.3% from ...
Read more »
HRMI report: Malaysians became less safe from their government in 2023KUALA LUMPUR, June 20 — Malaysians suffered a decline in their freedom to be safe from their government in 2023, according to a global rights monitor that found them to be at...
Read more »
US finds no currency manipulation in 2023, Japan added to monitoring listWASHINGTON, June 21 ― The US Treasury yesterday said no major trading partner appeared to manipulate its currency last year, but it added Japan to a foreign exchange...
Read more »
Operasi Haji Bagi Jemaah Malaysia Lebih Cemerlang Pada Tahun Ini Berbanding 2023Mohd Na'im turut berterima kasih kepada jemaah Malaysia kerana menjaga disiplin masing-masing dengan baik sepanjang menunaikan ibadah tersebut di tanah suci.
Read more »
Zafrul: Weak Ringgit in 2023 Affected Malaysia's Global Competitiveness Ranking, Will Improve This YearPreviously, we shared how Malaysia recorded its worst placement in the International Institute for Management Development's (IMD) latest edition of the World
Read more »
Losses of over RM5.3 mln losses recorded since 2023 due to vending machine scamsKUALA LUMPUR: Losses of over RM5.3 million due to vending machine scams were recorded since 2023 through 57 police reports lodged. Bukit Aman Commerci...
Read more »