KUALA LUMPUR (Sept 18): The Malaysian Automotive Association (MAA) said today the country’s August 2020 vehicle sales volume was 3% higher year-on-year at 52,800 units from 51,148 entities a year earlier but 8% lower in monthly terms as July 2020 total industry volume benefited from clearance of backlog orders after the sales tax exemption incentive announcement.
In a statement today, MAA said the shorter working month in August 2020 due to a few festive holidays had also led to lower sales volume during the month compared to July 2020.
The MAA said the country’s automotive production and sales volume comprises passenger and commercial vehicles.
Year-to-date, cumulative sales volume between January and August 2020 was however down at 285,045 vehicles from 398,319 units during the corresponding period last year.
“Sales volume in September 2020 is expected to be maintained at August 2020 level,” MAA said.
On vehicle production, MAA said August 2020 output volume increased to 50,228 vehicles from 47,000 units a year earlier.
Year-to-date, MAA said cumulative vehicle production, however, declined to 263,876 vehicles from 380,552 units a year earlier.
Looking ahead, MAA said sales volume in September 2020 is expected to be helped by ongoing promotional campaigns by car companies.
"Consumers’ sentiments (however) remain cautious with the loan (repayment) moratorium coming to an end by Sept 30, 2020,” MAA said.