For the vehicle sales of August 2020, Malaysian Automotive Association (MAA) has published a media release. In the report, a total of 52,800 units were delivered in August, which was 4,752 units or 8.2% less than the 57,552 vehicles sold in July.
However, August 2020’s sales were better than the corresponding period last year, where 51,148 units were shifted, making August 2020’s numbers higher than 2019’s by 1,652 units. In terms of year-to-date, the first eight months of 2020 standing at 285,045 units, which is 113,274 units or 28.4% less than the 389,319 units managed up to August 2019.
MAA attributes the August sales dip to the increased clearance of backlog orders in July following the sales tax exemption announced by the government in June, as well as a shorter working month in August due to a few festive holidays.
In terms of September’s vehicle sales, MAA expects sales volume to be maintained at the August level – despite on-going promotion campaigns and the SST exemption in place until December, it anticipates that consumer sentiment will likely remain cautious, with the six-month loan moratorium coming to an end on September 30.