The Malaysian Automotive Association (MAA) has released vehicle sales data for the month of January 2024, announcing that a total of 65,499 vehicles were delivered to buyers last month. This is 12,899 units less than the 79,398 units reported by the association for December 2023, representing a 16.45% reduction in volume over the previous month.
The association said that the drop in numbers last month was due to companies ramping up delivery of vehicles to fulfil backlog orders, especially for companies with their financial year ending December 2023, as well as increased sales as a result of year-end bargains.
Compared to the same month in 2023, January’s total was 30.5% (or 15,331 units) higher than the 50,168 units achieved last year. Although only a month in, the numbers for January keeps the 2024 TIV projection of 740,000 units well on track.
The association projects that sales in February will be lower than that of January, due to the shorter working month as a result of the Chinese New Year festive season.
The post Jan 2024 Malaysian vehicle sales down by 16.5%: MAA appeared first on Paul Tan's Automotive News.
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