KUALA LUMPUR (Oct 12): UMW Holdings Bhd said today that its automotive market share in Malaysia achieved a new record high of 53.7% in August 2020 and that the group registered a higher automotive sales volume in the third quarter of 2020 (3Q20), following stronger sales performance of Toyota and Perodua cars.
In a statement today, UMW said the sales tax exemption announced by the Malaysian government on June 5, effective from June 15 to Dec 31, 2020, helped lift car sales in 3Q20.
"The automotive segment of UMW Holdings 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.
"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," UMW said.
Perodua is also known as Perusahaan Otomobil Kedua Sdn Bhd.
UMW acting president and group chief executive officer Azmin Che Yusoff said in the statement today the encouraging sales volume achieved by both UMWT and Perodua in 3Q20 was despite the challenging market environment as a result of the Covid-19 outbreak.
"We are confident that the strong sales momentum will continue into the final quarter of the year," Azmin said.
According to UMW's statement, UMWT sold 5,605 units in September with Toyota Vios, Yaris and Hilux being the top sales contributors for the month.
"In 3Q20, 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," UMW said.
UMW said today Perodua sold 70,842 units in 3Q20, a 24.3% increase from 56,972 vehicles a year earlier.
"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 said.
At Bursa Malaysia today, UMW's share price fell five sen or 2.09% at 4.25pm to RM2.34 for a market value of about RM2.75 billion.
The stock saw 75,400 shares traded.