UMW Toyota's Jan - Apr 2024 sales numbers suggests normalizing growth after 2023's bumper year, down 3.7%

UMW Toyota Motor (UMWT) announced yesterday that it sold 7,345 units of Toyota and Lexus vehicles in April 2024, with Toyota-badged models contributing 7,213 units, while the imported-from-Japan only Lexus contributed 132 units.

Year-to-date, the company sold 30,789 units in the first four months.

The company didn’t share its sales numbers for March 2024, but figures compiled by RHB Investment Bank put it at 9,688 units. That’s a that month-on-month, UMWT’s sales had dropped by 25 percent, but that’s due the market’s natural correction, following a 30 percent spike in March after the short working month in February 2024 (due to Chinese New Year).

What’s concerning however, is UMWT’s year-to-date figures of 30,789 units. That’s 3.7 percent lower than the same four-month period in 2023.

Last year, sales were boosted by the government’s post-pandemic economic recovery measures, which saw locally assembled passenger cars enjoying sales tax exemptions. The exemption expired in March 2023, thus explaining the spike in last year’s figures. Total new car sales in Malaysia hit a record high of 799,731 units in 2023.

UMWT will soon launch a new limited production, 600 units only Toyota Yaris G Limited. Priced at RM 99,600, the Yaris G Limited costs RM 8,000 more than the regular Yaris 1.5G. The additional money buys you a set of styling upgrades, comprising of an aerokit and two-tone paint, while engine performance is bumped up slightly by a cold air intake and throttle controller. Chassis stiffening braces and dampers are also included.

UMWT also recently announced the Toyota Hiace Super Long Wheelbase (SLWB). Imported from Japan, the 10-seater is priced at RM 169,000. As a commercial vehicle, its exempted from paying excise tax.