At the Malaysian Automotive Association (MAA) today Press ConferenceIt was revealed that electric vehicle (EV) sales in Malaysia in the first half of 2024 reached 6,617 units. This is a 112% increase compared to the 3,117 units recorded in the first half of 2023.
The latest figures also show a rise in EV adoption in the country over the years, with a total of 10,159 electric cars sold in 2023while the number is significantly less in 2022 and 2021, at 2,631 and 278 units respectively.
The current EV incentives offered by the government are certainly the driving force behind the increase here. Currently, fully imported (CBU) EVs are currently exempt from import duties and excise taxes until December 31, 2025while domestically assembled (CKD) vehicles are exempt from excise tax and sales tax until December 31, 2027.
Data provided by MAA also shows 15,884 hybrids sold in the first half of 2024, which when combined with electric vehicle sales brings the total number of electrified vehicles (xEVs; including hybrids, plug-in hybrids and electric vehicles) sold to 22,501. Total xEV sales last year were 38,214, up from 2022 (22,619), while 2021 reached 8,153.
With the second half of the year still to go, will total EV sales in 2024 surpass those recorded in 2023? EVs have traditionally been outsold by hybrids over the past three years, and we don’t expect that to change in 2024.
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