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 Legacy Automakers are houses of cards, Signs have started

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TSEnergyAnalyst
post Jan 28 2025, 12:24 AM

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https://www.wapcar.my/news/2024s-top-20-car...nked-them-83848

2024 is a year that many in the automotive industry would rather forget. Except for Perodua and Honda, all other mainstream car brands – defined as brands selling more than 10,000 cars annually – experienced a decline in sales.

Although Malaysia’s total new car sales grew by 2.1% last year, reaching a record high of 816,747 units, much of the increase was driven by Perodua, which achieved an 8.4% growth to set a new sales record of 358,102 units.

Nearly every other major brand saw a decline in sales.

2024's top 20 car brands in Malaysia: Who gained and who lost ground, we ranked them 01

Among mainstsream non-national brands, only Honda managed to improve its 2024 sales
Chinese brands like BYD, GWM, Chery, and Jaecoo had a good year, but most – except for BYD – only began introducing their mainstream models last year, making year-on-year comparisons inconclusive.

Further below is a list of the top 20 car brands in Malaysia for 2024.

Top 20 car brands in Malaysia, 2024 (units)

Brand 2024 2023 Diff.
Perodua1 358,102 330,325 8.4%
Proton 147,787 150,974 -2.2%
Toyota1 100,670 150,974 -5.2%
Honda1 81,600 80,000 2.0%
Mitsubishi 16,164 21,716 -25.6%
Mazda5 14,530 19,389 -25.1%
Chery 12,699 4,503 182.0%
BMW1 10,500 11,699 -10.2%
BYD. 8,570 4,470 91.7%
Mercedes2 <8,000 <12,000 -33.3%
Nissan3 7,316 9,563 -23.5%
Jaecoo 6,988 2 N/A
Isuzu4 6,847 9,557 -28.4%
Ford 6,131 8,853 -30.7%
Tesla5 5,124 1,513 238.7%
GWM 2,128 499 326.5%
Volvo 1,964 2,699 -27.2%
VW 1,799 2,788 -35.5%
Lexus 1,621 1,901 -14.7%
MINI1 1,400 1,700 -17.6%
Notes:

1 Figures from company announcements.

2 Mercedes-Benz figures are based on estimates. JPJ data is inflated by reconditioned (recon) units, as Mercedes-Benz Malaysia does not announce its sales figures.

3 Nissan’s figures, including the NV200, were provided by RHB Research.

4 Isuzu figures include only pick-up trucks. JPJ data excludes sales of lorries and prime movers.

5 Estimates, adjusted to exclude recon units.

6 Percentages of Chery, BYD, Tesla and GWM, are inflated by low-base effect. Comparisons are invalid.

Subaru finished just outside the Top 20, with 1,280 units sold (estimated), down 26.9%.

Kia had 1,274 units sold, down 46.7%.

MG, which won't reach its first full-year sales until March 2025, ended last year with 1,156 units sold.

Peugeot sold 1,108 units, down 25.8%.

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