Vehicle sales up 27% in August after zero-rating of GST — MAA

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KUALA LUMPUR (Sept 18): Malaysia's vehicles sales in August jumped by 26.8% or 13,885 units to 65,551 units, compared with 51,716 units a year ago, as demand was boosted by a fall in prices amid the zero-rating of the goods and services tax (GST).

The Malaysian Automotive Association (MAA) said passenger vehicle sales increased by 21.22% or 9,764 units to 55,772 units in August, from 46,008 units in the same month last year.

Commercial vehicle sales, meanwhile, surged by 71.32% or 4,071 units to 9,779 units, from 5,708 units last year, MAA said in a statement today.

Total vehicle sales for the first eight months of this year was 10% or 39,008 units higher at 423,730 units, compared with 384,722 units sold in the same period last year.

The year-to-date sales for passenger vehicles rose by 9.48% or 32,746 units to 378,026 units, from 345,280 units in previous corresponding period, while commercial vehicle sales went up by 15.88% or 6,262 units to 45,704 units, from 39,442 units.

MAA said the sales volume for September is expected to be lower than the August level.

"Much of the purchases had been concluded before the end of GST tax holiday period," the association said.

In terms of output, total vehicles produced in August increased by 8.47% or 3,699 units to 47,387 units, from 43,688 units in the same month last year.

Total production for passenger vehicles rose by 7.89% or 3,174 units to 43,380 units in August, from 40,206 units a year ago, while commercial vehicle production was 15.08% or 525 units higher at 4,007 units, from 3,482 units.

Cumulatively, total vehicles produced for the first eight months of this year was 383,498 units, which was 11.82% or 40,540 units higher than 342,958 units in the same period last year.

Total passenger vehicles produced in the eight months was 355,869 units, up 12.2% or 38,707 units against 317,162 units in the previous corresponding period, while commercial vehicles production rose by 7.11% or 1,833 units to 27,629 units, from 25,796 units.