This post is also available in:
简体中文 (Chinese)
The Malaysian Automobile Association (MAA) predicts that new car sales in Malaysia will fall by 7.5% in 2024, from a record 799,731 units in 2023 to the expected level.
The MAA chairman said the record sales in 2023 were due to successful duty-free car bookings, political stability, a strong domestic economy and the launch of new models. However, the outlook for 2024 is weak, affected by global economic uncertainty, geopolitical tensions and consumer concerns about high living costs.
While the industry will benefit from improved supply chains and the introduction of new electric vehicles, it may face challenges from issues such as a potential slowdown in consumer spending.
(Source: theedgemalaysia Image source: freepik)
