MAA expects a 7.5% decline in total vehicle sales in 2024 in Malaysia due to concerns over targeted subsidy rationalisation, high cost of living and higher tax rates.

However, the association expects sales of hybrid and electric vehicles (EVs) to grow this year.

Due to government incompetence.

1. The EV road tax issue remains unresolved.
2. While we know that subsidy rationalisation will be implemented, the mechanism and eligibility criteria via PADU are still unclear.

People are hesitant to make significant long-term purchases because it is uncertain how subsidy rationalisation will affect our already high cost of living relative to our salaries.

Nikkei Asia compiled sales data released by industry groups in those three countries (Thailand, Indonesia and Malaysia) plus the Philippines and Vietnam and found that Malaysia’s sales figures, which had been third for a long time, topped Thailand’s for three consecutive quarters through January-March 2024.

According to the Malaysian Automotive Association, auto sales increased 5% in the first quarter from a year earlier to 202,245 vehicles. This followed an 11% increase in 2023 to a record 799,731 vehicles.

Sales tax exemptions for domestically produced vehicles — part of the government’s economic stimulus package — provided a tailwind for the national car brands Perodua and Proton, which held about 60% of the market share.

The tax exemptions started during the pandemic year of 2020, and although they ceased in mid-2022, the fulfillment of tax-free bookings continued to boost figures in 2023, according to the association. “Many new model launches including electric vehicles with very competitive prices helped to spur sales,” it said in a statement...

In contrast, sales in Thailand have been in a slump. Known as the “Detroit of Asia” due to its concentration on the automotive industry, Thailand had long held second place until sales fell 25% in the first quarter from a year earlier.

Thailand’s monthly auto sales have declined year-on-year starting last June due to increasing nonperforming auto loans and general stagnant consumption. The share of EVs is growing thanks to the entry of Chinese makers.

Indonesia also lacks momentum. Auto sales in the first quarter fell 24% from a year earlier as interest rates rose, leading consumers to hold back on purchases.

Sales in 2023 were just above 1 million vehicles, down 4% from 2022 and 30,000 fewer than in the pre-pandemic year of 2019, and falling short of the 1.05 million targeted by the Association of Indonesia Automotive Industries (Gaikindo).

Auto sales in Vietnam fell 16% in the first quarter. The domestic economy has been stagnant since last year due to sluggish exports and other factors, and auto sales continue to be double-digit percentages below the previous year’s level.

I will go for Tesla 100% instead of Accord.

Automotive industry is evolution now. The ICE has been dominated the market couple of hudreds of years and now it is moving from ICE to EV. The ultimate vehicle in next 50 years is self-driving mobile and the energy definitely be sourced from electric instead of fossil fuel.

China in the past was producing cheap and low quality ICE but in recent decade they prove to the world they are improving and evolving especially in EV. When most people talk about EV, they are either thinking Telsa or Chinese EV. Tesla sales was over the world long time ago and Chinese EVs are only recently exporting to overseas countries. We will see greater impact sooner in our country too. We should take it positively because Chinese is producing affordable ICE and EV compare to any other foreign carmaker.

Not true that EVs are making a dent on vehicle sales. BYD is giving out massive discounts up to Rm30k for its Atto and that will explain the current situation of EVs right now in Malaysia.
Honda is experiencing slowdown in sales because of market slow down and stagnatation.
Well Honda have been enjoying excellent sales since MCO ended. Its pretty normal for it to slowdown now.

BYD's massive RM30k discount for Atto 3 is due to its previous pricing for Atto 3 prior the arrival of Seal was too illogical (too little price difference between Atto 3 and Seal).

BYD's massive RM30k discount for Atto 3 is due to its previous pricing for Atto 3 prior the arrival of Seal was too illogical (too little price difference between Atto 3 and Seal).

and was for old 2023 stock...

That shows the kind of margins Manufacturers have for EVs. Anyway, the massive discount is for 2024 year made models and they are phasing it out soon to make way for the new facelift version.

Apparently no waiting period for most if not all Honda vehicles. Book today can get car tomorrow or next week.