UMW Holdings – auto division on track to achieve full-year sales target, October 2020 market share at 58%

UMW Holdings – auto division on track to achieve full-year sales target, October 2020 market share at 58%

UMW Holdings has announced that its automotive division is right on track to meet the projected full-year sales target of 53,000 units, following a boost in sales for UMW Toyota Motor and Perodua (of which it has a 38% equity stake in).

In a press statement, the Group’s auto market share is estimated to be at 58% in October, a sizeable increase over the 51.4% it achieved in October 2019. More specifically, UMW Toyota sold 6,468 vehicles in October 2020, up 15.4% from the 5,605 units shifted the month before. The most popular cars were the Vios, Yaris and Hilux.

In total, UMWT said it sold 43,807 units in the first 10 months of 2020. Meanwhile, the company is preparing to introduce the Yaris facelift soon. It was launched as a CKD model in April 2019, and has apparently been the top non-national hatchback model since.

UMW Holdings – auto division on track to achieve full-year sales target, October 2020 market share at 58%

As for Perodua, it sold 26,852 cars in October (a 7.3% increase over the 25,035 units sold in September), the highest monthly sales figure ever achieved in its 27-year history. UMW Holdings credits this to the sales tax exemption, which helped lift sales in the second half of the year.

For the first 10 months of 2020, Perodua managed to sell 171,864 units. That’s 81.8% of its projected yearly volume of 210,000 units. The company said Perodua’s two manufacturing plants have been running at near-maximum capacity since August to meet the surging demand.

UMW Holdings Berhad president and group CEO, Dato’ Ahmad Fuaad Kenali said: “The Group has managed to stage a strong recovery in the second half of the year, thanks to the sales tax exemption implemented by the government to boost the local automotive industry following disruptions caused by Covid-19. We are confident that the strong sales momentum would sustain until the end of the year, for us to achieve our sales targets for the year.”

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Matthew H Tong

An ardent believer that fun cars need not be fast and fast cars may not always be fun. Matt advocates the purity and simplicity of manually swapping cogs while coping in silence of its impending doom. Matt's not hot. Never hot.

 

Comments

  • azrai on Nov 12, 2020 at 12:49 pm

    Good news for Amanah Saham’s investor.

    Like or Dislike: Thumb up 8 Thumb down 1
    • azrai on Nov 12, 2020 at 4:55 pm

      As at April 2019, PNB and ASB hold 59.62% equity interest in UMW. Thank you P2 and Toyota buyer,bigger dividend this year.

      Like or Dislike: Thumb up 7 Thumb down 2
      • KUNTA KUNCHI on Nov 12, 2020 at 5:46 pm

        It is not wrong to declare dividends for investors.But why must Toyota buyers be burdened with high prices of the cars ,many of them may have just got employment inspite of covid.
        Link that to a 9 year hire purchase loan…imagine 108 months of uncertainty should vss comes.
        The poor dude struggles every month to ensure he does not default in payment.Prices should be more affordable ,given the current covid climate.

        Like or Dislike: Thumb up 1 Thumb down 3
        • Edwin L on Nov 13, 2020 at 12:54 pm

          So true brah… Toyota scared to make Prices more affordable , becuz Toyota buyers confirm buy proton cars…. if Toyota prices go lower..so kesian Toyota buyers…

          Like or Dislike: Thumb up 0 Thumb down 0
        • azrai on Nov 16, 2020 at 8:26 am

          Do poor man buy Toyota?

          Like or Dislike: Thumb up 0 Thumb down 0
  • M & B on Nov 12, 2020 at 2:07 pm

    Tahniah UMW Toyota

    Like or Dislike: Thumb up 10 Thumb down 2
  • Daryl on Nov 16, 2020 at 7:40 am

    Good Job UMWT !

    Like or Dislike: Thumb up 0 Thumb down 0
 

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