Posted on 21 Mar 2024
Malaysia’s car production slipped month-on-month in February, in line with lower monthly car sales, Kallanish notes.
The Malaysian Automotive Association (MAA) says in a statement that Malaysia’s car output fell 13.76% to 65,611 units in February from 76,077 units in January.
Year-on-year comparison, however, showed the country’s car production rose 2.84% from 63,798 units a year ago.
Over the first two months, Malaysia’s car output grew 15.83% to 141,688 units from 122,325 units a year earlier.
Meanwhile, total industry volume in Malaysia for February also declined because of the short working month due to the Lunar New Year holidays.
The country’s car sales in February were 4.07% lower at 62,833 units as compared to 65,699 units in January.
Year-on-year comparison also showed that car sales dipped 1.15% from 63,561 units a year ago.
Over two months, Malaysia’s car sales increased by 12.84% to 128,332 units from 113,729 units a year earlier.
According to MAA, car sales in March are expected to be higher than February 2024.
This will be driven by a rush for deliveries by companies with their financial year ending on 31 March 2024, and promotional campaigns for the Hari Raya festive season.
Source:Kallanish
