The Malaysian Automotive Association (MAA) has released sales and production figures for the month of July 2018, and the spike in sales that started in June as a result of the government’s move to zero-rate the goods and services tax (GST) continued, improving on last month’s sterling results.
In July, sales totaled 68,465 units, an increase of 3,963 units or 6% over the 64,502 units shifted in June.
The sales volume last month is the second highest monthly TIV achieved in the history of the local automotive industry, just a shade short of the 69,371 unit record set in December 2015.
The total achieved last month was also 41%, or 19,912 units more than that managed in July 2017. As for year-to-date figures, the total for the first seven months of the year amounted to 358,179 units, an increase of 7.56% – or 25,173 units – from the 333,006 units for the same period last year.
For the month of August, the association expects sales to be maintained at or close to July 2018 levels, with customers striving to secure a deal before the three-month tax-break period winds to a close, although depleted stocks as a result of the unexpected surge since June and supply disruptions might have a final say in what’s achieved.
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Will be veli interesting to see Sept results.
When there is no more Tax Holiday, sales will drop like Hot potatoes.
I wouldn’t be surprised, that the present Harapan govt will abolish or minimised relevant taxes as gratitude to the rakyat. Merdeka!