The Road Transportation Department’s (JPJ) vehicle registration database has been updated, and it provides electric vehicle (EV) registration figures up to 31st May 2024. Since the previous update, May was a record high month for EVs in Malaysia this year with 2,453 units registered, representing 3.32% of total vehicle registrations.
Top 15 EV models for May 2024
Last month, BYD dominated the top 5 spot with the BYD Seal at number 1 with 581 units, followed by Atto 3 at number two with 333 units and the Dolphin taking fifth place with 131 units. Followed closely is Tesla with the Model Y at third place with 320 units and Model 3 at fourth place with 316 units.
BYD registered 1,045 EVs last month, followed by Tesla with 636 units. The two brands make up 68.5% of total EVs registered for May 2024.
The other Chinese-based EV brands such as MG, Chery and GWM are not far behind. In May, the MG4 recorded 106 units, followed by the Chery Omoda E5 with 80 units and GWM Ora (presumably Good Cat and 07) with 68 units. The recently introduced BMW iX2 had also made a splash with 67 units registered, while the Lotus Eletre is still among the top 10 models with 57 units registered last month.
The list continues with BMW electric sedans, the i4 and i5 having 45 and 39 units registered. Meanwhile, the Smart #1, Hyundai Ioniq 6 and Volvo C40, had 37 registrations each.
Top 15 EV models between January to May 2024
If we look at the overall EV registration data for January to May 2024, SUVs remain the top favourites followed by sedans. The Tesla Model Y is still #1 with 1,458 registrations year to date (YTD), and it is followed very closely by the BYD Atto 3 with 1,451 registrations. The list continues with the BYD Seal which recorded 1,421 registrations and the Tesla Model 3 with 1,178 registrations.
The BYD Dolphin saw a slight pickup last month and the electric hatchback still maintains its #5 spot with 736 units registered YTD. There are no changes in position for the Omoda E5 (324 units), Smart #1 (239 units) and GWM Ora (213 units).
The biggest jump we’ve seen is the MG4 which is now tied with the BMW i5 with 145 units registered this year. Ultra-premium EVs like the Porsche Taycan and Lotus Electre are still on the list with 140 units and 137 units registered respectively.
EVs overtook petrol hybrids for vehicle registration in May 2024
If we look at the monthly registration figures, it seems that EV adoption is rising steadily in Malaysia. In January, total EV registrations in Malaysia were at 2.00% (1,403 units) of total vehicle registrations and it rose to 3.32% (2,453) in May.
It is also interesting to highlight that EV registrations have overtaken hybrid vehicles last month. 1,870 petrol hybrids were registered versus 2,453 EVs registered in May 2024.
Overall, petrol vehicles still dominate in Malaysia with about 88% market share, followed by diesel (including green diesel) at 6.5%. With the current trajectory, it would be interesting to see if EVs would overtake hybrid vehicles for the full year.
The government’s ongoing plan to rationalise fuel subsidies is expected to affect the purchase decisions of new car buyers.
Economy Minister Rafizi Ramli recently mentioned in an interview about a ‘petrol surprise’ following the bulk diesel subsidy abolition. However, Prime Minister Anwar Ibrahim had downplayed the statement saying that the government has yet to decide on RON95 petrol subsidy rationalisation.
On top of that, the new EV road tax structure released by the Ministry of Transport would also help address the cost concerns of owning an EV. At the moment, road tax for EVs are exempted until 31st December 2025.
An all-electric brand enters Malaysia’s Top 10 for the first time
As mentioned previously, BYD, a brand with just three EV models, is now a top 10 brand for vehicle registrations in Malaysia. The Chinese automaker has recorded a total of 3,608 units registered 2024 YTD. As a comparison, 2,642 Tesla EVs were registered during the same period.
To learn more, you can check out the Vehicle Registration dashboard on Data.gov.my. They have recently updated the portal to allow users to compare registrations between brands and models.
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