We’re again from the Malaysian Automotive Affiliation (MAA) annual briefing and have some huge figures to share. Final yr was one other report yr for the automotive trade with 799,731 items bought. This almost 800k complete trade quantity (TIV) comfortably beat the 2022 complete of 721,177, itself a report.

This 11% progress to beat the earlier report was propelled primarily by the passenger automotive sub-segment, amid a resilient home economic system and a really a lot steady socio-political setting, the auto membership mentioned in an announcement. One other set of eye-popping figures is from electrified automobiles, which MAA manufacturers as ‘xEV’. This contains hybrids and full EVs.

Final yr, xEV gross sales jumped 69% from 22,619 items in 2022 to 38,055 items, making up round 5% of the 2023 TIV. Of this complete, 28,055 items have been hybrids (BSG-type delicate hybrids are included) whereas 10,159 items have been battery electrical automobiles. Meaning the year-on-year progress for hybrids is 40%, whereas EV progress is a large 286% from 2022’s 2,631 items.

MAA says that its gross sales knowledge are solely from the affiliation’s members. New entrant Tesla isn’t an MAA member, so the precise progress for EVs would have been barely larger since Mannequin 3 deliveries began in late November.

For 2024, MAA believes that the xEV demand and curiosity will proceed to develop due to authorities assist to advertise the usage of these ‘greener’ vehicles, as nicely the introduction of extra new xEV fashions.

MAA president Mohd Shamsor Mohd Zain mentioned that this yr, the forecast is for xEVs to contribute 9-10% of TIV, and a pair of% for full EVs. Primarily based on MAA’s 2024 TIV forecast of 740,000 items, that might be as much as 74,000 items for xEVs and 14,800 items for EVs.

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