KUALA LUMPUR (March 10): UMW Holdings Bhd announced on Thursday (March 10) that the diversified group's February 2022 car sales volume was 10% higher at 23,853 vehicles from 21,657 units a year earlier as its automotive arm continued to ramp up car production to fulfil its encouraging outstanding order book.

UMW Holdings via subsidiary UMW Toyota Motor Sdn Bhd is the assembler, marketer and exclusive distributor of Toyota and Lexus vehicles in Malaysia, according to UMW Holdings' website.

UMW Holdings also owns an associate stake in Perusahaan Otomobil Kedua Sdn Bhd (Perodua).

According to Perodua's website, UMW Holdings via UMW Automotive Sdn Bhd owns a 38% stake in Perodua.

In UMW Holdings' Thursday statement, the group said UMW Toyota Motor and Perodua registered improved automotive sales in February 2022 compared with a year prior.

UMW Holdings president and group chief executive officer Datuk Ahmad Fuaad Kenali said in the statement: "Both companies (UMW Toyota Motor and Perodua) will continue to ramp up production to deliver our cars to the  customers."

"The sales tax exemption [in Malaysia] and the introduction of all-new and facelift models are expected to drive sales in the first half of 2022.  

"We strive to offer exciting and great value models as well as offer superior after-sales services to meet our customers’ requirements and expectations," Ahmad Fuaad said.

In the statement, UMW Holdings said UMW Toyota Motor's car sales volume rose 26.8% to 6,432 units in February 2022 from 5,074 a year earlier.

UMW Holdings said the Toyota Vios and Hilux models continued to be UMW Toyota Motor’s best-selling models in February 2022.

"The newly-launched Toyota Corolla Cross Hybrid registered encouraging sales and contributed to the Toyota Corolla Cross model moving up to become the third best-selling model for the month of February 2022.  

"To refresh its model line-up, on Feb 17, 2022, UMW Toyota Motor unveiled the new Toyota Camry which boasts enhanced performance, improved safety and security that places it in the premium executive car segment," UMW Holdings said.

Meanwhile, Perodua registered a car sales volume of 17,421 units in February 2022, 5.1% higher than the 16,583 units registered in February 2021, according to UMW Holdings.

Perodua's top-selling models for February 2022 were the recently-facelifted Myvi, followed by the Axia and Bezza, UMW Holdings said.

"Perodua targets to sell 247,800 units this year, a 30% increase over the 190,291 units sold in 2021," UMW Holdings said.

UMW Holdings' website indicates that the group's diversified businesses include industrial equipment distribution besides the manufacturing of aircraft engine components.

At Bursa Malaysia's 12:30pm break on Thursday, UMW Holdings' share price settled unchanged at RM3.05 for a market capitalisation of about RM3.57 billion.