The Road Transport Department (JPJ) has finally updated its vehicle registration database and we now have the latest electric vehicle (EV) registration details in Malaysia for the first 8 months of 2024. For August 2024, a total of 1,774 EVs were registered which is 2.33% of the total industry volume of 76,075 vehicles registered in Malaysia.
In total, 14,321 EVs have been registered between January to August 2024, which is a 121% growth compared to 6,490 EVs registered between January to August 2023. The total EVs registered in Malaysia this year (January to August 2024) has already surpassed the total EVs registered in 2023 which recorded 13,301 units.
With the current rate, EV registrations in Malaysia are expected to exceed 21,000 by the end of this year.
Tesla Model 3 dethrones BYD Seal as the popular EV in August 2024
Looking at August 2024 figures, the Tesla Model 3 has broken BYD Seal’s 4-month streak of having the most popular EV model in Malaysia. The Model 3 has recorded 379 units, followed by the BYD Atto 3 at #2 with 227 units and BYD Seal at #3 with 205 units. The affordable BYD Dolphin remains popular at #4 with 101 units registered followed by BMW Group’s latest Mini Countryman at #5 with 87 units.
The Smart #1 and #3 (JPJ grouped them under a single name) have gained slightly more momentum at #6 with 63 units, followed by the MG4 at #7 with 62 units. GWM’s Ora Good Cat and the 07 at #8 have collectively recorded 60 units, followed by the BMW i5 at #9 with 58 units and the Tesla Model Y at #10 with 57 units.
Several newcomers on the list for August include the GAC Aion Y Plus with 31 units registered and the new Volvo EX30 with 20 units, which we reckon are mostly demo test drive vehicles registered ahead of launch.
BYD still leads overall EV registrations in Malaysia for 2024
If we look at the overall registration data for 2024 YTD, BYD still dominates with a total of 5,603 units registered which is 39% of the total EV market. Until August 2024, the BYD Seal remains the most popular model with 2,267 units, followed by the BYD Atto 3 with 2,217 units. This is then followed by Tesla’s popular duo, the Model 3 with 1,978 units and the Model Y with 1,851 units.
It is worth pointing out that BYD has recently launched its more affordable BYD Seal Dynamic which is priced at RM163,800 and they have also launched a new BYD Atto 3 2024 Extended Range model at the same price as their previous Standard Range model.
Meanwhile, Tesla has also been ramping up their offers with discounts of over RM30,000 for their inventory Tesla Model Y Performance and low-interest offers for selected models with selected financial providers
Taking the #5 spot is the BYD Dolphin with 1,119 units, followed by the Chery Omoda E5 at #6 with 471 units and GWM Ora Good Cat/07 at #7 with 448 units.
Pro-Net’s Smart #1 and #3 are showing steady growth with a total of 403 vehicles registered so far, followed by the MG4 which has 353 units registered.
BMW remains the leading premium EV brand in Malaysia with BMW i5 recording 293 units, followed by the BMW iX2 with 253 units and the BMW i4 with 186 units.
For the premium performance segment, Porsche and Lotus are neck and neck with the Taycan having 204 units registered while the Electre has 192 units registered so far. Lotus Cars Malaysia has recently launched the Emeya which provides an alternative for those who prefer a non-SUV alternative.
