Key Market Indicators
Malaysian vehicle registration is projected to hit approximately 715,000 units by 2028, up from around 638,000 units in 2023. This marks an average annual growth rate of 1.8%. Since 2010, the Malaysian market has seen a yearly increase of 1.3%. In 2023, Malaysia ranked 36th globally, with Ecuador just ahead at the same unit count. Leading the ranks were Canada, China, and Austria in the second, third, and fourth positions, respectively. On the production front, Malaysia is expected to see a decline. Vehicle production is set to decrease to about 531,000 units by 2028, down from approximately 554,000 units in 2023. This represents an average annual decline of 0.7%. Since 2002, Malaysian vehicle production has experienced a yearly drop of 0.4%. In 2023, Malaysia was 22nd in the world, with South Africa slightly ahead at the same unit count. The United States, Japan, and Germany held the second, third, and fourth spots in this ranking, respectively.
Malaysia Automotive Innovation Articles
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The Electrification Wave: How Grab Malaysia is Steering Southeast Asia Towards a Greener Future
Apr 13th 2025
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Huawei Sparks Digital Revolution in Malaysia’s Automotive Industry
Sep 7th 2024
