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 industry volume (TIV) comfortably beat the 2022 total of 721,177, itself a record.
This 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. Another set of eye-popping figures is from electrified vehicles, which MAA brands as ‘xEV’. This includes hybrids and full EVs.
Last year, xEV sales jumped 69% from 22,619 units in 2022 to 38,055 units, making up around 5% of the 2023 TIV. Of this total, 28,055 units were hybrids (BSG-type mild hybrids are included) 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% from 2022’s 2,631 units.
MAA says that its sales data are only from the association’s members. New entrant Tesla isn’t an MAA member, so the actual growth for EVs would have been slightly higher since Model 3 deliveries started in late November.
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.
The post EV sales in Malaysia – 10,159 units sold in 2023, up 286% vs 2022; hybrid sales also increased by 40% appeared first on Paul Tan's Automotive News.
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