Malaysia: Passenger Car Market 2024

Passenger Car Market Size in Malaysia

The Malaysian passenger car market totaled $X in 2022, stabilizing at the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Passenger car consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Passenger Car Production in Malaysia

In value terms, passenger car production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Passenger Car Exports

Exports from Malaysia

In 2022, overseas shipments of passenger cars increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a noticeable expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, passenger car exports skyrocketed to $X in 2022. In general, exports recorded a resilient increase. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

Thailand (X units) was the main destination for passenger car exports from Malaysia, with a X% share of total exports. Moreover, passenger car exports to Thailand exceeded the volume sent to the second major destination, Indonesia (X units), threefold. South Africa (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and South Africa (X% per year).

In value terms, Thailand ($X) remains the key foreign market for passenger cars exports from Malaysia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Thailand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and the Philippines (X% per year).

Export Prices by Country

The average passenger car export price stood at $X per unit in 2022, remaining stable against the previous year. Over the period under review, the export price, however, saw resilient growth. The pace of growth appeared the most rapid in 2014 an increase of X%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to Egypt ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Passenger Car Imports

Imports into Malaysia

In 2022, approx. X units of passenger cars were imported into Malaysia; declining by X% compared with the previous year's figure. In general, imports faced a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of X%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, passenger car imports skyrocketed to $X in 2022. Over the period under review, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest passenger car supplier to Malaysia, accounting for a X% share of total imports. Moreover, passenger car imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was taken by Germany (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

In value terms, Japan ($X), Germany ($X) and China ($X) constituted the largest passenger car suppliers to Malaysia, with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average passenger car import price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :