Malaysian CV sales up slightly in Q3 of 2023
By Will Pulson - 11th January 2024
Malaysia - The Malaysian commercial vehicle market over 2 tons gvw continued to grow in the third quarter of 2023, albeit just slightly to 19,900 units after an 85% rebound to 19,329 units in the same period of last year, based on data collated by the Malaysian Automotive Association (MAA).
Economic growth in the country accelerated to 3.3% year-on-year in third quarter from 2.9% in the second quarter, according to preliminary government data, underpinned by strong domestic consumption despite the central bank hiking interest rates from 1.75% to 3.0% in the last eighteen months. This follows a 14% economic rebound a year earlier from the pandemic lows.
