KUALA LUMPUR, Jan. 21 (Xinhua) -- Malaysia's new car sales rose 2.1 percent year on year to a record high of 816,747 units in 2024, the Malaysian Automotive Association (MAA) said on Tuesday.

The car sales were propelled mainly by the passenger cars sub-segment, amid a resilient economy with broad-based improvement in all key economic sectors, leading to an overall stronger domestic demand, MAA said in a statement.

The increase in sales was largely due to the strong performance of national automakers, particularly Perodua.

Electric vehicles (EV) accounted for 5.6 percent of the total industry volume compared to 4.8 percent in 2023.

The EV sales jumped by 19 percent year on year to 45,562 units in 2024.

Meanwhile, total industry production of new vehicles in 2024 increased by 2 percent year on year to reach a total of 790,347 units.

MAA projected that new car sales will decline by 4.5 percent year on year to 780,000 units in 2025.

The forecast takes into account economic and policy factors, including uncertainties surrounding the trade war, and the impact of the petrol subsidy rationalization exercise on higher-engine-capacity vehicles, which could affect total industry volume this year. Enditem

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