Sept Sees 15% Decline In TIV - MAA

According to the Malaysian Automotive Association (MAA), September's Total Industry Volume (TIV) slumped by 15% to 58,032 units from 68,174 units in the same month last year.

In contrast, the TIV for the September 2024 year-to-date (YTD) period was 594,037, 4% higher than the 571,957 recorded in the corresponding period of 2023.

September's TIV was 20% less than August's 72,367 units on a month-over-month basis.
In September 2024, the total number of passenger cars sold plunged by 14% to 52,922 from 61,548 units in the previous year, while the volume of commercial vehicles sold decreased by 23% to 5,110 from 6,626 units.

Comparably, YTD passenger car sales surged by 6% in 2024, from 512,951 to 543,903 units. YTD, the number of commercial vehicles dropped by 15%, from 59,006 to 50,134. In the month under review, total production decreased by 20% from 69,133 units to 55,383 units. Production increased by 5% during the first nine months, from 566,442 to 593,050.

The association says that in addition to consumers taking a wait-and-see stance until the National Budget 2025 was announced, the shorter working month in September also had an impact on the sales figures.
According to MAA's forecast, sales in October 2024 will surpass those in September 2024.