UMW data healthy automotive sales in January

KUALA LUMPUR: UMW Team is inspired more than its product sales effectiveness in 2021 with both UMW Toyota Motor and Perodua registering healthy January income quantities on the back of the extension of the gross sales tax exemption initiative.

UMW Toyota Motor recorded gross sales of 3,845 units in January, which was 4.1% bigger than 3,695 models in the very same thirty day period very last yr although Perodua marketed 16,984 units, a little bit lower than 17,481 recorded in January 2020.

Around the month, the Toyota Vios, Yaris and Hilux remained UMW Toyota Motor’s very best-selling products. Improved variations of the Vios and Yaris have been released on Dec 17, 2020.

The distributor also launched the up to date Toyota Fortuner and Innova on Feb 2, which will more improve its product or service offerings.

Meanwhile, Perodua targets to offer 240,000 units in 2021, which will be a 9% raise above the 220,163 units marketed final calendar year.

The automaker also options to maximize its generation to 272,000 motor vehicles this 12 months, which will lead to a report invest in of RM6.5bil value of domestically sourced elements in 2021.

According to UMW, the sustained demand from customers for automotives was owing to the government’s extension of the profits tax waiver for regionally assembled vehicles and the 50% profits tax exemption on imported cars and trucks to June 30, 2021.

Shifting ahead, the Malaysian Automotive Affiliation has forecast that the complete business quantity (TIV) will expand approximately 8% to 570,000 models in 2021, underpinned by the projected GDP advancement of amongst 6.5% and 7.5% in 2021 and ongoing assistance from the federal government.

“We are without a doubt grateful that the govt experienced allowed the car assembly, showroom and support centre operations to proceed with stringent compliance to the common operating procedure below the Motion Control Order 2..

“We are also thankful to the authorities for extending the product sales tax exemption incentive to 30 June 2021, which has enabled the Group to sign up wholesome revenue in January,” stated UMW Holdings president and team CEO Datuk Ahmad Fuaad Kenali.