Key Market Indicators
Malaysian commercial vehicle registrations are projected to decline significantly, dropping to approximately 18,000 units by 2028 from around 33,000 units in 2023. This represents an average annual decrease of 9.5%. Since 2010, the Malaysian market has seen a consistent yearly decline of 12.8%. In the global rankings for 2023, Malaysia was positioned at number 47, with Croatia surpassing it with 33,000 units. Leading the rankings were Canada, Mexico, and Argentina in the second, third, and fourth positions, respectively. In contrast, Malaysian commercial vehicle production is expected to see growth. By 2028, production is forecasted to reach nearly 55,000 units, up from about 44,000 units in 2023, marking an average annual growth rate of 3.4%. Despite this growth, since 2002, the country's supply has experienced a slight annual decrease of 0.1%. In 2023, Malaysia ranked 25th, with the Philippines overtaking it at 44,000 units. The top spots in this category were held by Mexico, China, and Canada, ranking second, third, and fourth, respectively.
