The Automotive segment of UMW Holdings Berhad registered higher sales in the third quarter of 2020 following strong sales achieved by both UMW Toyota Motor (UMWT) and its 38%-associate company, Perodua.
The Group’s automotive market share achieved a new record high of 53.7% in August, an increase from the 51.4% registered in 2019.
The sales tax exemption announced by the government on 5 June 2020, effective from 15 June 2020 to 31 December 2020 has helped to lift sales in the third quarter of 2020.
UMWT sold 5,605 units in September 2020 with Toyota Vios, Yaris and Hilux being the top sales contributors for the month.
In the third quarter of 2020, UMWT recorded an increase of 13.5%, or 2,242 units, in sales – with a total of 18,870 units sold compared to 16,628 units registered in the same quarter of 2019.
For the first nine months of 2020, UMWT sold 37,339 units, 70.5% of its revised target to sell 53,000 units for the year.
Meanwhile, Perodua, for the month of September, recorded its highest ever monthly sales in its 26-year history with registered sales of 25,035 vehicles, a 10.8% increase from the 22,604 units sold in August 2020.
Perodua sold 70,842 units in the third quarter of 2020 compared with 56,972 units registered in the same quarter of 2019, an increase of 13,870 units or 24.3%.
For the first nine months of 2020, Perodua sold 145,012 units, 69.1% of its target to sell 210,000 units for the year. In order to meet the strong demand, Perodua is also increasing production at both its assembly plants in Sungai Choh, Rawang.
UMW Holdings Berhad Acting President and Group CEO, Azmin Che Yusoff said, “We are pleased with the encouraging sales achieved by both UMWT and Perodua in the third quarter of the year despite the challenging market environment as a result of the Covid-19 outbreak.
We are also thankful to the government for introducing economic stimulus packages and for implementing the sales tax exemption to boost the automotive industry in Malaysia.
We are confident that the strong sales momentum will continue into the final quarter of the year.”
(Photo credit: 123RF)