From 2013 to 2023, Malaysia's motorcycle imports witnessed significant fluctuations, peaking at $331.65 million in 2013 before declining sharply to $105.47 million by 2023. The most dramatic decreases occurred between 2013-2018, marked by substantial year-on-year declines. The 2019-2023 period showed a trend towards stabilization, with mild upturns in 2019 and 2021 but ultimately a 1.77% decline by 2023. The 5-year CAGR by 2023 was a modest -0.23%, indicating relative stability.
Looking ahead:
- Forecasts predict a steady decline, with the value in 2028 anticipated to be $95.205 million.
- A forecasted 5-year CAGR of -1.56% suggests an ongoing, albeit gentle, downward trend.
Future trends to watch for:
- Emerging local manufacturing capabilities potentially reducing import reliance.
- Economic shifts and consumer preferences, particularly towards electric vehicles, influencing import volumes.
- Policy changes and trade agreements impacting import tariffs.
