The upward trend for vehicle sales in Malaysia has continued into its second month, as data from the the Malaysian Automotive Association (MAA) has indicated that vehicles sales in Malaysia has increased by 94.7% in June 2020.
Back in June, sales amounted to 44,965 units, which is an increase of 21,735 units or 94.7 percent compared to May.
Although sales figures over the past two months were encouraging, year-to-date figures paint a different figure. With 174,675 units shifted from January to June, it is still 121,642 units behind the same period last year, owing to the Movement Control Order (MCO) that was implemented in March.
According to MAA, the increase in sales was due to the Short-Term Economic Recovery Plan (PENJANA), whereby locally-assembled (CKD) cars will get a 100 percent sales tax exemption, while an imported car (CBU) gets a 50 percent sales tax exemption.
MAA has also revised their forecast for 2020’s total industry volume (TIV) to 470,000 units, an increase from the earlier 400,000 units target.