Automotive Production & Sales Data (May 2024)

Looking at May 2024 figures, the total industry volume (TIV) / Sales for Jan-May 2024 period was 8% higher than the similar corresponding period in 2023, whereas production also continues to be robust at 12% higher vs 2023 same period. This increase is mainly driven by the Passenger Vehicle (PV) segment, as compared to Commercial Vehicle (CV) where both production and sales has declined.

For the first 5 months of 2024, total production has risen 12% to 341k units (vs 2023 at 304k). Breaking down the YTD numbers, PV continues to have strong growth at 13% increase of 323k units produced, whereas there’s a decline of -5% for production of CV.

For the first 5 months of 2024, total sales have risen 8% to 328.9k units (vs 2023 at 303.5k). Breaking down the YTD numbers, PV continues to have growth at 11% increase of 301k units in sales, whereas there’s a decline of -15% for sales of CV.

Based on news citing Malaysian Automotive Association (MAA), local car sales in June’24 are expected to remain at the same level as in May’24.

Besides the usual $BAUTO / 5248 (BERMAZ AUTO BERHAD), DRBHCOM, $MBMR / 5983 (MBM RESOURCES BHD), UMW, car parts manufacturer also would benefit from this continuous increase in vehicle sales, such as $FEYTECH / 5322 (FEYTECH HOLDINGS BERHAD) $PECCA / 5271 (PECCA GROUP BERHAD) APM to name a few, and Spare Parts Supplier such as $NHFATT / 7060 (NEW HOONG FATT HOLDINGS BERHAD).

I must admit that I’ve underestimated how much Malaysians like buying new cars… there are really A LOT of cars on the road right now. Makes me wonder how many actually withdrew from their EPF 3 just to buy a new car.

Previous discussion on Feb 2024 Automotive Sales: https://cutt.ly/IesXY43h