More EVs are now on Malaysian roads as EV sales within the 1H 2024 grew by more than 100% when compared to 1H 2023.
According to today’s announcement, MAA members have sold 22,501 units of xEV models from January to June this year. Out of this number, 6,617 units were battery-powered EVs while the other 15,884 units were hybrid models.
Malaysia has recorded a TIV of 390,296 units within the first half of this year which MAA said is 6.6% higher than the same period last year. MAA members has also recorded a much higher Total Industry Production in 1H 2024 as well as at 392,052 units. Aside from that, other factors include positive reactions from the market for many of the new models as well as stability in the socio-politic, employment market, and Overnight Policy Rate . In addition to backlog orders, the recent growth in the country’s Gross Domestic Product rate has also helped increase the TIV, says MAA.a major increase in EV registration
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