Malaysia Motorcycles Market is struggling. Q1 2024 sales declined sharply with figures at 135.717 (-20%) and with all main players reporting a double-digit decline. A recovery is expected in the next quarters fueled by positive economic outlook.
Malaysia Motorcycles Industry Trend and Perspectives
The Malaysian two wheeler market is the 13th largest in the World, following the huge increase reported during the last decade.
However, following the dramatic acceleration scored in 2022, with new record hitting the 0.7 million annual sales, the market is now in a declining phase, waiting for new stimulus to grow.
Sales declined in 2023 by 11.9% and the surprise is now the almost negative performance scored during the first quarter 2024, when sales have been 135.717, down a deep 20%.
The market should recover in the next quarters as the demand should be supported by strong economic trend. Indeed, Malaysia’s central bank forecasts the country’s economy to grow between 4 and 5 per cent in 2024, but cautions that upcoming reforms may cause some short-term pain and the sector could not be resilient to this.
Looking a bit deeply inside the market data, we can note that the electric segment is still very small but finally is fast growing with sales accelerated in the last quarter (+187%), while inside the competitive arena, the top players are struggling, with the market leader – Yamaha – down 18.3%, the main rival, Honda, down 11.9 and the top domestic OEMs losing sharply with SM down 35.8% and Modenas down 51.0%.
