According to data from Kenanga Investment Bank, Malaysia's electric vehicle (EV) market performed strongly in August 2026, with 8,833 battery electric vehicles (BEVs) registered during the month; the Proton e.MAS 5 saw the most significant sales growth.
The research firm noted that 4,770 units of the Proton e.MAS 5 were registered, accounting for 54% of total EV sales for the month. This marked the first time a single model captured more than half of monthly registrations since the Malaysian EV market surpassed the 1,000-unit monthly sales mark.
However, Kenanga pointed out that excluding the Proton e.MAS 5, registrations for other EVs fell by 10%—from 4,535 units in July to 4,063 units in August.
The firm attributed the sluggish performance of competing brands partly to reduced vehicle inventories—particularly for BYD, which saw sales drop by 46% month-on-month and 35% year-on-year.
Malaysia's Total Industry Volume (TIV) for August declined by 3% month-on-month and 4% year-on-year, partly due to fewer working days during the month.
Passenger vehicle sales totaled 67,058 units, down 3% from July and 2% from the same period last year.
Despite the overall decline, Malaysian national automakers continued to strengthen their market position, accounting for 66% of TIV in the first eight months of 2026, compared to 54% during the same period the previous year.
Perodua's market share rose from 38% to 41%, while Proton's share expanded from 16% to 25%, driven by sustained consumer demand for affordable vehicles and the launch of new models. Proton's sales in August rose by 18% month-on-month and 38% year-on-year, driven primarily by strong sales of the e.MAS 5, e.MAS 7, and Saga models, alongside increased demand for the X70, X50, X90, and S70.
Kenanga estimates that Proton had an order backlog of approximately 50,000 units as of August, implying a waiting period of three to six months.
Meanwhile, Perodua saw an 8% decline in sales both month-on-month and year-on-year, although models such as the Axia, Bezza, Myvi, and Ativa continued to sustain market demand.
The national automaker is estimated to have an order backlog of 40,000 units, with delivery waiting times ranging from two to five months.
Kenanga anticipates that Perodua's recent price reduction of up to RM4,700 for the second-generation Axia, combined with ongoing promotional campaigns, will boost sales momentum in September.
Among non-national brands, Toyota maintained the lead in August with a 32% market share, followed by Honda with 22%.
Mazda ranked third with a 5% share, surpassing Chery and BYD, both of which held a share of approximately 4%.
