Breaking down Malaysia’s automotive trends: Top cars, brands, and EVs

The Malaysian automotive industry holds a second position in the Southeast Asian region with the annual sales surpassing the 8,00,000 mark for the first time in 2024. To be specific, the country sold 816,747 units last year, representing a 2.1% increase over the previous record of 799,821 units in 2023.

Here, we break down the total sales figure into passenger and commercial vehicle categories -

Passenger vehicles	747,180 units (3.9% y-o-y growth)
Commercial vehicles	69,567 units (13.8 % y-o-y decline)
Total sales	816,747 units (2.1% y-o-y growth)

The above table highlights that the passenger vehicle segment contributes a significant portion of the overall sales. The passenger vehicle segment witnessed a year-on-year growth of 3.9% while the commercial segment saw a decline of 13.8 %.

According to the Malaysian Automotive Association, the growth of the automotive industry is attributed to the following factors -

• Strong economy (5.2% GDP growth vs. 3.8% in 2023)
• Stable policies
• Low unemployment rate (3.2%)
• High demand for A-segment cars
• Successful new launches (especially Chinese EVs
• Aggressive promotions

Let’s dive deeper into the world of passenger cars in Malaysia and learn about the top-performing brands, models, and the emerging EV landscape.

Best-selling car brands in Malaysia

Just like in previous years, 2024 was also dominated by none other than Perodua, holding a major chunk of the total car sales in Malaysia. It sold a total of 358,100 units last year with an approximate market share of 48% thanks to its affordable and fuel-efficient models. The automaker witnessed a year-on-year growth of 8.4% over the 330,325 units sold in 2023. 

Perodua is followed by Proton with 147,587 units. These two national brands hold a combined market share of 62% of the total industry volume and 67.7% of the passenger vehicle segment.

Coming to non-national brands, Toyota and Honda remain strong players in the Malaysian automotive market, while Chery has emerged as a strong contender with its striking SUVs.

Best-selling cars in Malaysia

As we can see above, Perodua cars rule the passenger vehicle industry in Malaysia. Five out of the six best-selling cars in the country hail from the Perodua brand, making it people’s favourite. We have the Bezza on the no.1 spot with a total sales of 100,814 units, followed by the Perodua Axia and Perodua Myvi with 88,137 units and 72,214 units, respectively.

On the fourth spot, we have the Proton Saga with 69,863 units, and then the fifth and sixth positions are again held by Perodua models; Alza (44,374 units) and Ativa (36,039 units).

Toyota, being the third top-selling brand, has Vios and Hilux as its top-selling models. Honda, on the other hand, shines with the City sedan and City hatchback.

Electric cars market in Malaysia

2024 was also an exciting year for the EV segment as it welcomed a range of new electric cars, ranging from budget-friendly SUVs to ultra-luxurious sedans. 

Breaking down the numbers, a total of 45,562 xEVs (battery-electric, hybrid, and plug-in hybrid vehicles) were sold in the country last year. However, if we see just BEVs, a total of 21,789 pure electric cars were sold in 2024, representing an impressive growth of 64% over the 13,301 units sold in 2023.

Let’s have a look at the top-selling EV brands and EVs shaping the electric vehicle market in Malaysia.

Best-selling EV brands in Malaysia

The data above reveals the following insights - 

• BYD dominates the EV segment in Malaysia with a total sales of 8,570 units in 2024, highlighting the brand’s popularity, competitive pricing, and aggressive expansion strategy. After introducing the Atto 3 and Dolphin in 2023, the Chinese automaker brought three new EVs to the local shores in 2024, including Seal, M6, and Sealion 7.
• Tesla follows the BYD with 5,137 units, leveraging its Model Y and Model 3 to capture a substantial market share.
• Among premium brands, BMW is a strong contender, followed by MINI and Volvo.
• Not only BYD, but other Chinese EV marques like GWM, MG, and smart are also gaining traction in the local EV space.

Best-selling EVs in Malaysia

Key findings from the table are as follows -

• BYD is the undisputed leader in the Malaysian electric vehicle market, as five out of the top 10 best-selling EVs are from BYD. The Atto 3 holds the no.1 spot with an impressive sales of 2,969 units, closely followed by the Seal with 2,958 units.
• Tesla’s presence in Malaysia has also grown significantly, with the Model 3 and Model 3 taking up the third and fourth positions, respectively.
• On the next spots, we have the BYD EVs again - Dolphin and the most recently launched Sealion 7, reinforcing the brand’s dominant market presence. 
• Other notable performers include the GWM Ora Good Cat, Ora 07, smart #1, smart #3, and Chery Omoda E5.

Conclusion

The Malaysian automotive industry continues to evolve with strong demand for fuel-efficient cars and the growing adoption of electric vehicles. Perodua is the undisputed king of this arena while Proton, Toyota, and Honda maintain their strong positions. BYD and Tesla lead the charge in the EV market whereas BMW and Mercedes-Benz continue to woo buyers in the luxury segment. Other than BYD, Chinese brands like Chery and GWM are also gaining momentum locally. 

Also read: What makes the Proton S70 Malaysia's favourite C-segment sedan?