The Malaysian Automotive Association (MAA) today released the sales report for 2023 which recorded a Total Industry Volume (TIV) of 799,731 units, an all-time high record in Malaysia. It is an 11% increase from 2022 (721,177 units) with a similar ranking in terms of brand.
For 2023, Perodua managed to record 330,325 units of sales, resulting in its 41.3% market share. Following behind is Proton with 150,975 units, Toyota with 106,206 units, Honda with 80,027 units, and Mitsubishi with 21,719 units.
Compared to the TIV in 2022, Perodua saw a 17% growth in sales from 282,019 units, which is the largest among the top five. Proton saw an 11% growth from its 136,026 units in 2022, while Toyota marked a 6% growth from 100,041 units. Honda and Mitsubishi saw a decrease in their 2023 sales with a 0.3% and 9.6% shrink respectively.
Looking at the TIV recorded in 2023, the MAA saw a peak in March with 78,895 units sold. This is the highest monthly sales figure marked in the year. This is contributed by factors such as the bookings received from tax-free car bookings, a majority of which were registered before March 31, 2023. The number immediately plummeted to just 47,800 units in April with sales only picking up from May onwards with 63,154 units sold.
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The industry sales growth in 2023 also marked the second annual gain since the downturn in 2020-2021 caused by the COVID-19 pandemic crisis. It was also the second consecutive year the annual TIV of new motor vehicles in Malaysia have exceeded the 700,000 units mark.
MAA forecasts a 7.5% decrease in the sales of all vehicles and a 7.4% decrease for passenger vehicles in Malaysia in 2024. This is due to various factors, including the consumers’ concerns over targeted subsidy rationalisation, high cost of living, as well as higher service tax rates for vehicle repair and maintenance.
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