Malaysians purchased a document quantity of vehicles final yr, pushing 2023 auto gross sales near the 800,000 items mark. The all-time excessive determine of 799,731 items represents an 11% progress from the 721,177 items achieved in 2022, which was a document then. By the best way, the unique forecast for 2023 by the Malaysian Automotive Affiliation (MAA) was 650k, earlier than it was revised to 725k in July 2023.
Whereas each nationwide and non-national makes noticed progress, Perodua and Proton had been largely liable for the elevated numbers. Final yr, P2 and P1 offered a mixed 481,300 items, which interprets to 66.9% share of the passenger car market. That is up from 65.1% in 2022.
Conversely, the non-national market share is now at 33.1%, which is a few 20% decrease than the N-N peak in 2014-2015. Nonetheless, there was progress of 6% for the overseas makes, from 224,112 items in 2022 to 237,860 items.
The sturdy displaying by the nationwide manufacturers final yr is a continuation of their rise after dropping to under 50% market share from 2014 to 2018. That droop was largely on account of Proton’s low contribution, however with Geely now on the wheel, the tide has turned. As for perennial market chief Perodua, 40% market share has been the norm for a while now – simply think about 4 out of each 10 new vehicles and also you’ll see the dimensions of P2.
The present nationwide market share of 66.9% is the very best since 2002, when it was at 78%. There was a giant surge in non-national gross sales from 2002 to 2005, and it stayed at round 55:45 till 2012, when a Honda-led push noticed non-national makes overtake P1/P2 for the primary time in 2014, after they held 53% of the market. This spell the place overseas makes outsold P1/P2 lasted for 5 years, and the switchback occurred in 2019.
The hole has been widening since, and that is prone to be the established order for the appreciable future. There appears to be no stopping Perodua, which has responded to Geely-Proton’s ambition to be Malaysia’s No.1 (and No.3 in ASEAN, as declared publicly by CEO Li Chunrong) by merely discovering one other gear and pulling forward. With no new PIES to promote, the chasing Proton is banking on rebadged Geelys which might be direct rivals to Japanese fashions, additional consuming into the N-N pie.
Some may see hints of a ‘proxy warfare’, with Perodua below Toyota’s huge umbrella by advantage of it having Daihatsu as technical companion and shareholder (Daihatsu is fully-owned by Toyota), and Geely controlling Proton (though its shareholding is ‘simply’ 49%). The merchandise from Rawang and Tanjong Malim mirror this – current P2 fashions put on Daihatsu and Toyota badges in Indonesia, whereas Proton’s X SUVs and the S70 are principally right-hand drive Geelys.
We’ve dived deep into this nationwide vs non-national development, monitoring the ups and downs of Perodua/Proton and Toyota/Honda over time – click on on the hyperlinks to learn extra. Additionally, what’s in retailer from Perodua, Proton, Toyota and Honda in 2024? Click on on the hyperlinks for our new mannequin predictions.
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