Posted on 17 Dec 2024
Malaysia's car production dropped month-on-month and year-on-year in November, in line with lower car sales, Kallanish notes.
The Malaysian Automotive Association (MAA) says in a statement that car production fell 10% y-o-y to 60,927 units while m-o-m production decreased by 17%. From January to November, the total car production increased by 2% to 725,173 units.
Meanwhile, Malaysia's total car sales were 8% lower y-o-y at 67,532 units. The total industry volume (TIV) for November was 3.3% lower than October.
According to MAA, the lower car sales were due to consumers adopting a wait and see attitude for year-end promotions. From January to November, the TIV stood at 731,534 units, which was 1% higher than the corresponding period in 2023.
The TIV for December is expected to be higher than November. This will be driven by aggressive year-end promotions by companies having their financial year ending on December 31, 2024.
Source:Kallanish
