August 2020 Malaysian vehicle sales go down by 8.2%

The Malaysian Automotive Association (MAA) has released vehicle sales date for the month of August 2020, and after a frenetic July, the pace slowed down a little last month. A total of 52,800 units were delivered in August, which was 4,752 units or 8.2% less than the 57,552 vehicles sold in July.

The month’s sales were however better than the corresponding period last year, in which 51,148 units were shifted, making August 2020’s numbers higher than 2019’s by 1,652 units. In year-to-date terms, there’s still some catching up to do, with the tally for the first eight months of 2020 standing at 285,045 units, which is 113,274 units or 28.4% less than the 389,319 units managed up to August 2019.

The association attributes the August sales dip to the increased clearance of backlog orders in July following the sales tax exemption announced by the government in June, as well as a shorter working month in August due to a few festive holidays.

For the month of September, the association expects sales volume to be maintained at the August level – despite on-going promotion campaigns and the SST exemption in place until December, it anticipates that consumer sentiment will likely remain cautious, with the six-month loan moratorium coming to an end on September 30.

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