UMW Toyota is one of only 3 in Malaysia to register positive YoY growth for 2021

UMW Toyota Motor (UMWT) registered more than 25 percent year-on-year on growth for October 2021. Cumulative sales of Toyota and Lexus vehicles between January to October 2021 stood at 54,618 units, versus last year's 43,807 units.

Last month’s sales alone was worth 8,500 units, up 6 percent from September 2021.

In a statement sent to the press earlier today, UMWT also thanked the government for extending the sales and services tax (SST) exemption for locally-assembled passenger cars until 30-June 2022.

“The recovery of the market has been strong as people who had to defer their purchases earlier are now coming to showrooms to place their orders. Our order bank has been steadily growing and our two plants are working at maximum speed to deliver as many vehicles as possible so that customers do not have to wait long,” said President of UMW Toyota Motor, Ravindran K.

The Malaysia Automotive Association (MAA) will be announcing the country’s total new car sales figures for October 2021 in the coming weeks. However as of September, total industry volume (TIV) was down 7.3 percent this year, at 318,874 units, versus 344,019 units last year.

Only 3 automotive distributors bucked the downtrend. The aforementioned UMW Toyota, Mitsubishi Motors Malaysia (up 89 percent) and Isuzu Malaysia (up 1 percent). This is based on data compiled by RHB Research.