Forecast: Commercial Vehicles Production in Malaysia

The production of commercial vehicles in Malaysia has experienced significant fluctuations over the past decade. The actual value stood at 46.35 thousand units in 2023. Observing year-on-year variations provides insights into these trends: significant growth in early 2010s, peaking in 2014 with a 20.68% increase, followed by a steep decline in 2015. The market showed some recovery between 2017 and 2018, but faced another downturn in subsequent years. A notable drop of 60.39% characterized 2023. Over the last five years, the compound annual growth rate (CAGR) was a negative -8.34%, indicating an overall decline in production.

Moving forward, the forecast suggests a continued decrease in production through 2028, with an anticipated 35.3% reduction. Key trends to monitor include potential shifts in government policy, technological advancements in commercial vehicle manufacturing, and changes in domestic and international demand.