Malaysia Motorcycles Market is healthy. However, following the huge jump to the record reported last year, Year to Date September 2023 figures were 429.546, down 14.2%. Yamaha is market leader.
Malaysia Motorcycles Industry Trend and Perspectives
The Malaysian two wheeler market is the 12th largest in the World, following the huge increase reported last year hitting the new all-time record, and the next years expectations are still very positive.
The Malaysian economy expanded moderately in the second quarter of 2023 (2.9%; 1Q 2023: 5.6%), weighed mainly by slower external demand. Domestic demand remained the key driver of growth, supported by private consumption and investment. Household spending was supported by further growth in employment and wages. Meanwhile, investment activity was underpinned by capacity expansion, progress of multi-year projects and higher fixed asset spending by the government. Inflation rate growth is under control (below 3%) and the country outlook looks great.
However, the 2-wheeler market this year is declining in double-digit due to the too fast growth reported in the previous years. Indeed, middle terms trend was positive before covid 19 disruption temporary blocked the demand with low sales in 2020, immediately recovered by a real boom, ended in 2022 at the new all-time record sales, not far from the 0.7 million.
The growth was too fast and this year sales are declining since the start, with the first half ended down 4.7% and then with a really negative Y-o-Y score in the Q3, with sales declined 30.3%. As results, Year to Date September figures were 429.546, down 14.2%.
Full Year is projected at 0.6 million, which would be the second best year ever.
The electric segment is still very small (few hundreds) while is growing 218%.
Looking at the competitive arena, the market leader in the annual data is Yamaha with sales down 9.5%.
In second place there is Honda (-2.7%) ahead of Modenas (-9.4%).