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August 24, 2020

Malaysia vehicle sales up 13% in July

Malaysia’s new vehicle market continued to recover in July 2020, with sales rising by over 13% to 57,552 units from weak year-earlier sales of 50,854 units, based on registration data released by the Malaysian Automotive Association (MAA).

By bcusack

Malaysia's new vehicle market continued to recover in July 2020, with sales rising by over 13% to 57,552 units from weak year-earlier sales of 50,854 units, based on registration data released by the Malaysian Automotive Association (MAA).

The MAA said in a statement "aggressive promotional campaigns by car companies and a longer working month contributed to higher sales in July".

This follows a 5% rise in June, after the government suspended the vehicle sales tax mid-month until the end of the year to help the domestic vehicle market recover from the economic effects the COVID19 pandemic. Dealers followed suit with broad-based price cuts and attractive packages to help bring in buyers.

Sales in the second quarter plunged by 55% to69,122 units after the government imposed its strict Movement Control Order (MCO) from 18th March to help slow the spread of the disease – which it began to ease progressively in May. GDP shrank by over 17% year-on-year in the second quarter, with household consumption plunging by 18.5%, fixed investment down by almost 29% and exports dropping by over 14%.

Cumulative seven-month sales were still down by just over 33% at 232,245 units from 347,171 units in the same period of last year. Passenger vehicle sales fell by 39.2% to210,995 units in this period while commercial vehicle sales were down by 29.5% at21,250 units.

Perodua's sales increased by over 16% to 23,203 vehicles in July, but were down by over 31% at 97,373 units year-to-date. Proton reported an almost 54% sales rise to 13,216 units last month, while Toyota's sales increased by close to 33% to 7,509 units.

Overall vehicle production in the country fell by 2.6% to 47,631 units in July and by 36% to 213,680 units, year-to-date.

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