Malaysia 2024. Motorcycles Market Keps Struggling Although EVs Segment Booms

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Yamaha-NVX-155-VVA
Yamaha-NVX-155-VVA

Malaysia Motorcycles Market very negative in 2024. During the 2024 sales of new scooter and motorcycles reached 565.713 (-19.9%), far near 150.000 units from the 2022 record. Yamaha still is on top of the list ahead of the rival Honda, while the electric segment is growing 306%.

 

The Malaysian economy expanded by 5.3% in the third quarter of 2024 (2Q 2024: 5.9%), driven by strong investment activity and continued improvement in exports. Investment activity was underpinned by strong spending on structures and machinery and equipment (M&E), while household spending sustained its expansion amid positive labour market conditions and policy support.

During the quarter, both headline and core inflation remained stable at 1.9% (2Q 2024: 1.9%). Higher inflation was observed for diesel (20.1%; 2Q 2024: 5.3%) and vehicle insurance (0.8%; 2Q 2024: -0.1%), which was offset by broader moderation in inflation for food and beverages (1.6%; 2Q 2024: 1.9%)

In a such positive economic environment, the Malaysian two wheeler market, the 13th largest in the world, reported a very negative performance during the year, although the new segment of electric vehicles (scooter for 99.9%) is fast growing.

During the 2024 sales of new scooter and motorcycles reached 565.713 (-19.9%), far near 150.000 units from the 2022 record.

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 this year (+306%).

Looking inside the competitive arena, the top players are struggling, with the market leader – Yamaha – down 17.0%, and the main rival, Honda, down 29.4%.

Even the top domestic OEMs are losing sharply with SM Sport down 20.3% and Modenas down 18.2%.

 

honda-cb-750-2024
honda-cb-750-2024