sales Archives

Proton’s Strong Start to 2024: Best January Sales Since 2013

Proton has achieved its best January sales performance since 2013 by selling 12,882 units (domestic and export). This marks a 1.3% increase compared to December 2023 and a significant 10.3% increase compared to January of the previous year. With this strong start, Proton comfortably retains the second position in the sales table, and its estimated market share for the month is 19.5%, showing a 3.3% increase from the previous month.

The Total-Industry-Volume for January is estimated to be 66,134 units, reflecting a decline of 15.6% compared to December. This drop is attributed to the traditional year-end push for higher vehicle sales in December 2023.

The newly launched Proton S70 has made a notable impact, with 1,442 units delivered in January and over 8,000 bookings. The model has received a positive response from customers and has already made its way to an export market in Brunei, with 15 units delivered ahead of its official launch this month.

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Malaysian Car Sales Projected to Dip to 625,000 in 2024

In a recent report, RHB Research forecasts a decline in the total industry volume (TIV) for car sales in Malaysia, estimating a decrease to 625,000 units in 2024 after achieving a historic high of 799,000 in 2023. The research firm remains circumspect about the industry’s outlook, citing a lack of compelling factors to propel sales and earnings to new peaks.

As reported by NST, the year 2023 witnessed a robust performance, with the total production volume reaching 774,000 units. This surge was attributed to pent-up demand and the introduction of new car models. Notably, the second half of the year experienced an 18% uptick in TIV compared to the first half.

RHB Research attributes the exceptional sales performance in 2023 to pent-up demand and underscores the absence of similar catalysts in 2024. The research maintains a neutral stance on the auto and auto parts industry, with Bermaz Auto (BAUTO) identified as a top pick due to its 10% yield and resilient car sales.

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BYD Achieves Record Sales of 3.02 Million NEVs in 2023

Chinese automaker BYD has reported a significant milestone in its electric vehicle (EV) sales, with a record-breaking 3,024,417 new energy vehicles sold in 2023. This figure represents a remarkable year-on-year increase of 62.3%, surpassing the previous year’s sales record of 1,863,494 vehicles.

The impressive growth in sales is attributed to BYD’s commitment to new energy vehicle production, with 3,045,231 units manufactured in 2023—a 62.2% increase compared to the previous year. The commercial vehicle segment played a crucial role, recording sales of 11,511 units, including electric buses, trucks, and other vehicles, experiencing a notable uptick of 88.2%.

In the passenger car business, BYD’s sales reached 3,012,906 units, marking a year-on-year increase of 62.2%. Notably, the sales of pure electric models surged, totalling 1,574,822 units with a robust year-on-year growth of 72.8%. Battery electric vehicles (BEVs) accounted for 52.3% of total passenger car sales, reflecting increasing consumer preference for electric mobility.

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Perodua Reports 28.3% Sales Increase in Q3 2023

Perodua has reported a remarkable 28.3% increase in sales for the third quarter of 2023, compared to the same period in 2022. In this quarter, Perodua sold 88,537 units, a substantial growth from the 69,011 units sold during the third quarter of 2022.

This surge in sales can be attributed to Perodua’s efforts to enhance production operational efficiency. In the third quarter of 2023, Perodua manufactured a total of 91,528 units, marking an impressive increase of 21.7% when compared to the 75,196 units produced during the same period in 2022.

The third quarter of 2023 marked the beginning of an initiative to boost the company’s monthly production to over 30,000 units per month. This became possible as supplies of raw materials and parts could finally meet the rising demand.

For the year-to-date figures, Perodua has produced 245,341 units as of September 2023. This represents a substantial 18.6% increase from the 206,837 units produced during the same period in the previous year. This growth showcases the potential of the Malaysian automotive ecosystem, as it continues to enhance economies of scale without compromising quality and cost efficiency.

In terms of year-to-date registrations, Perodua reported 233,227 units for the first nine months of 2023, compared to 196,354 units for the same period in the previous year. Among these registered units, the most popular Perodua model during this period was the Perodua Bezza, followed by the Perodua Axia and the Perodua Myvi.

Perodua is on track to achieve its registration target of 314,000 units for this year. In September 2023, the company registered 28,995 units, marking a 17.7% increase compared to the same month in 2022. In terms of production, Perodua manufactured 31,447 cars in September 2023, reflecting a 8.2% increase from the 29,077 units produced in September 2022.

VinFast Reveals Most EV Sales Are Linked To Related Party

VinFast, a Vietnamese electric vehicle (EV) manufacturer, has raised eyebrows due to its sales distribution. Reports indicate that over half of VinFast’s electric vehicles sold this year, approximately 7,100 units out of 11,300, were purchased by Green and Smart Mobility (GSM), a Vietnamese taxi company. GSM is under the umbrella of Vingroup, the parent company of VinFast. This data was disclosed in VinFast’s filings to the US Securities and Exchange Commission in July and September.

VinFast made headlines when its stock price soared dramatically after its listing through a special purpose acquisition company (SPAC) in the previous month. Despite having sold only 24,000 vehicles in the entire previous year, at one point in September, the company’s market capitalization reached a staggering $200 billion. This valuation briefly placed VinFast among the world’s most valuable automakers, surpassing established giants like Volkswagen, Ford, and General Motors, despite the latter’s significantly larger sales volumes.

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Proton Maintains Sales Growth As Of July 2023

Proton continued its impressive sales trend in July with 13,326 (domestic + export) units sold, building on a solid first half of 2023. The amount represents a 16.1% rise over July 2022 and contributes to year-to-date (YTD) sales of 90,647 units, the company’s first breach of the 90,000-unit threshold since 2012 and a 26.6% increase over the prior year. Market share for July is anticipated to be 20.5%, bringing the year-to-date market share to 21%.

The success of Proton is set against a background of rising vehicle sales, with total industry volume (TIV) for July predicted to reach 64,864 units. This raises the monthly total by 29.9% over the corresponding month in 2022 and raises the year total by 12.9%. As a result, Proton’s sales performance through July of this year had been 14% better than the industry average.

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New Record For Vehicle Sales In March 2023

March was the final month for delivery of new vehicles that were exempted from sales tax, the provision having been allowed by the Finance Ministry after the tax exemption ended on June 30, 2022. Understanding that the demand had been very great as many people wanted to save on the sales tax, and production was not sufficient to fulfill the orders by the deadline, the ministry allowed the car companies until March 31, 2023 to deliver the vehicles booked before the deadline.

The 9-month allowance was certainly appreciated as the industry had production disruptions due to shortages of parts, especially microprocessors. During the second half of last year, vehicle output was inconsistent even though efforts were being made to maximise the numbers, with priority being given to the tax-exempted orders.

Furthermore, March is also the end of the financial year for some car companies and there is usually a final strong push to end the financial year with the best numbers. Thus the March Total Industry Volume (TIV) of new vehicles shot up by 24% to reach 78,849 passenger and commercial vehicles.

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Hap Seng Star Opens Upgraded Mercedes-Benz Autohaus in Bukit Tinggi, Klang

The Klang Valley has the largest concentration of motor vehicles in the country and obviously, also a large proportion of Mercedes-Benz vehicles. For this reason, the network of outlets – known as Autohaus – is quite extensive in the Klang Valley to serve the many customers.

In Bandar Parklands, near Klang, Hap Seng Star has a Mercedes-Benz Autohaus in the Bukti Tinggi area which was set up in view of the prominent and established township. “We want to be where our customers are, and deliver to them the best customer services and retail experience. In today’s context, we are cognisant that the customer experience is equally as important as the product offering, and thus, together with Mercedes-Benz, we aim to capitalise on the immense auto business opportunities within the Bukit Tinggi region and growing it into a significant auto hub in the years to come,” said Harald Behrend, Group Chief Operating Officer of Hap Seng Consolidated Berhad and Chief Executive of Hap Seng Group’s Automotive Division.

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Record Month For Perodua With 27.5% Increase In Quarterly Sales Volume

During the final month of the first quarter of 2023, Perodua made a big push in production and sales to cross the 30,000-unit level, setting records in the process. The two plants completed 33,666 vehicles while 32,179 vehicles were delivered nationwide.

The March numbers added to those of January and February took first quarter production to 84,800 units while sales were 78,564 units. These represented increases of 33.9% and 27.5%, respectively, over the volumes reported for the same period in 2022.

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Big Increases in February Sales For Most Brands With 29% Higher Cumulative Volume

After the drop at the start of the year, sales for almost all brands picked up again in February, even though this is the shortest month of the year and typically sees low sales. However, with the urgency to deliver vehicles to those customers who had booked prior to the June 30 2022 deadline for sales tax exemption, many companies rushed to get vehicles registered.

_{Data source: Monthly reports of Malaysian Automotive Association.}

Among the non-Malaysian makes, Toyota has again gotten off to strong start as an indication of its determination to retain the lead in the segment. However, Honda will be putting in a strong challenge this year as it has announced that there will be three all-new models, one of which is known to be the WR-V compact SUV. This takes the brand into Perodua and Proton territory as it will be a rival for the Ativa as well as the X50.

The erratic production volumes reflect the disruptions caused by shortage of parts, especially microprocessors which are needed for the many electronic systems in today’s vehicles. Just one microprocessor not available and the vehicle cannot be completed. Some manufacturers have even taken to sending vehicles out with some features omitted due to the systems lacking the necessary microprocessor. However, some stability is beginning and the plants are able to push out more vehicles.

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March should see higher numbers as well since it is the final month for deliveries of those long outstanding orders. It’s also usually a strong month because it is the end of the financial year for some car companies, so there is maximum effort to close their books with the best numbers of the year. And there are also promotions for the Hari Raya festive season to attract buyers.

Honda Stays At No.1 Position In Passenger Vehicle Sales in Malaysia For 2022

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sales

Proton’s Strong Start to 2024: Best January Sales Since 2013

Malaysian Car Sales Projected to Dip to 625,000 in 2024

BYD Achieves Record Sales of 3.02 Million NEVs in 2023

Perodua Reports 28.3% Sales Increase in Q3 2023

VinFast Reveals Most EV Sales Are Linked To Related Party

Proton Maintains Sales Growth As Of July 2023

New Record For Vehicle Sales In March 2023

Hap Seng Star Opens Upgraded Mercedes-Benz Autohaus in Bukit Tinggi, Klang

Record Month For Perodua With 27.5% Increase In Quarterly Sales Volume

Big Increases in February Sales For Most Brands With 29% Higher Cumulative Volume

Proton’s Strong Start to 2024: Best January Sales Since 2013

Malaysian Car Sales Projected to Dip to 625,000 in 2024

BYD Achieves Record Sales of 3.02 Million NEVs in 2023

Perodua Reports 28.3% Sales Increase in Q3 2023

VinFast Reveals Most EV Sales Are Linked To Related Party

Proton Maintains Sales Growth As Of July 2023

New Record For Vehicle Sales In March 2023

Hap Seng Star Opens Upgraded Mercedes-Benz Autohaus in Bukit Tinggi, Klang

Record Month For Perodua With 27.5% Increase In Quarterly Sales Volume

Big Increases in February Sales For Most Brands With 29% Higher Cumulative Volume

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