Looks like used cars continue to record strong sales even though mobility for many Malaysians is limited to a 10 km radius. Transport Minister Datuk Seri Dr Wee Ka Siong attributes the continuous good results to existing online platforms and ownership transfers made easy.
Dr Wee was quick to congratulate the Federation of Motor and Credit Companies Associations of Malaysia (FMCCAM) for their quick action on embracing the online space. This has enabled them to continue serving the public during the Movement Control Order (MCO).
Other than the initial lockdown during March and April 2020, sales have soared and continue to produce good results.
"Their efforts to go online also paid off handsomely as online vehicle ownership transfers account for an average of RM40mil each year," he said in his speech at FMCCAM's virtual 43rd annual general meeting on Saturday (12-June-2021).
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FMCCAM’s online system includes the online vehicle transfer system, the Temporary Ownership Transfer System, and the eSerahan Tukar Milik (eSTM) extension.
These systems have made it much more convenient for vehicle owners to conduct ownership transfers without visiting the Road Transport Department (JPJ) officers.
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FMCCAM’s president Datuk Khor Chong Boon revealed that used car sales have grown 20% as 347,000 online ownership transfers took place between January and May this year.
"Last year, we achieved our target and saw 601,000 ownership transfers. This would not have happened without the systems as these cases would have required 1.2 million trips and manpower if done offline," he said.
Also read: Despite losing 3 months of business, Malaysian used car sales hold steady in 2020
The online system also made JPJ’s work much easier by digitally processing the collection of RM 40 million in processing fees.
Khor also revealed that FMCCAM’s next goal is the make the vehicle ownership certificate more accessible by allowing system partners the ability to print the certs. At the moment, the certs can only be printed at JPJ offices.