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.