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So far we’ve taken a look at overall, passenger car and pick-up truck sales data broken down by brand, but there’s one more we haven’t touched, and that is the premium car segment. This is where it gets interesting, because while sales of these more expensive vehicles have increased, it’s not the usual players that benefit from this.
Overall, the eight premium brands (bearing in mind that Tesla, Audi and smart do not report their sales figures to the Malaysian Automotive Association, or MAA) sold 1,060 more cars last year at 29,213 units. As usual, the lion’s share of the market was sewn up by BMW and Mercedes-Benz – together, they constituted 72.4% of all sales (BMW 41%, Mercedes 31.4%).
But Munich’s sales were virtually flat at 11,973 units (three fewer than in 2022), while Mercedes delivered 568 fewer cars at 9,163 – a decrease of 5.8%. Distant third-placer Volvo has also seen a decline of 15.6% or 498 units to 2,696 units, its market share dwindling from 11.3 to 9.2%.
It appears that buyers have instead gravitated towards the bit players, led by Lexus. Sales of Toyota’s luxury offshoot almost doubled to 1,901 units, with a commensurate market share growth to 6.5%. Meanwhile, MINI saw a healthy 49% jump in sales to 1,808 units, the extra 595 cars delivered more than making up for its parent brand’s underperformance.
But the biggest surprise was Porsche, sales of which grew 70.5% to 1,526 units, clearly driven by an increase in the number of high net worth individuals. That seems to have been at the expense of Land Rover, which saw a decrease of 42.4% to 76 units, dipping under the three-figure mark.
Its stablemate Jaguar has a comparatively more positive year – it too almost doubled its sales, although in this case it’s only up 18 units to 37 units. That’s barely any more than Lotus, which opened its books with 33 units sold, driven by the new Eletre SUV.
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