Malaysia Motorcycles Market is struggling in 2024. Although the very positive economic environment, the first nine months sales have been 406.575 (-6.6%). Yamaha still is on top of the list ahead of the rival Honda, while the electric segment is growing 348%.
The Malaysian economy advanced by 5.9% in the second quarter of 2024 (1Q 2024: 4.2%). The growth is driven by stronger domestic demand and further expansion in exports. Household spending increased amid sustained positive labour market conditions and larger policy support. Investment activity was underpinned by continued progress in multi-year projects and capacity expansion by firms.
Exports improved amid higher external demand and positive spillovers from the global tech upcycle. Most supply-side sectors registered higher growth.
The manufacturing sector was supported by broad-based improvement across all clusters, particularly in electrical and electronics (E&E). The services sector recorded strong growth, driven by consumer and business-related subsectors. On a quarter-on-quarter seasonally-adjusted basis, the economy expanded by 2.9% (1Q 2024: 1.5%).
Headline and core inflation averaged 1.8% in the first half of 2024. During the quarter, both headline and core inflation edged higher to 1.9% (1Q 2024: 1.7% and 1.8% respectively).
In a such positive economic environment, the Malaysian two wheeler market, the 13th largest in the world, reported a shine recovery in Q3 (+2.2%), following a declining first half (-10.9%).
As consequence, after the first nine months of the year, sales have been 406.575 (-6.6%) and the year is likely to end with a declining, and the previous one.
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 (+346%).
Looking inside the competitive arena, the top players are struggling, with the market leader – Yamaha – down 4.6%, tand he main rival, Honda, down 14.6%.
Even the top domestic OEMs are losing sharply with SM Sport down 3118.2.8% and Modenas down 9.6%.
