KUALA LUMPUR, Dec 10 — UMW Holdings Bhd’s automotive segment is on track to meet its full-year sales target supported by strong sales in November 2020 by both subsidiary UMW Toyota Motor Sdn Bhd (UMWT) and associate company Perusahaan Otomobil Kedua Sdn Bhd (Perodua).
In a statement today, the group said the automotive segment had steadily recovered from the adverse impact of the Covid-19 containment measures earlier this year with demand boosted by the sales tax exemption incentive announced by the government, effective from June 15 to December 31, 2020.
It said UMWT was poised to exceed its revised sales target of 53,000 units for the year after selling 6,267 units in November 2020, which brought total sales to 50,074 units for the first 11 months of this year.
“Toyota Vios, Yaris and Hilux continued to be UMWT’s best-selling models year-to-date,” it said.
UMW said Perodua also continued to advance strongly, achieving close to 93 per cent of its year-end target of 210,000 units as it recorded sales of 23,119 units in November, including a record-breaking single-day sale of 5,027 units on the last day of the month.
“For the first 11 months this year, Perodua has sold 194,983 units. The Myvi continues to be the marque’s best-seller year-to-date, followed closely by the Axia and Bezza,” it said.
Moving forward, it said Perodua would prioritise on meeting the outstanding orders by year-end to allow as many customers to enjoy sales tax-exempt prices while further bolstering the Malaysian automotive ecosystem with over 90 per cent of its components are locally-sourced.
President and group chief executive officer Datuk Ahmad Fuaad Kenali said the group continued to sustain strong sales momentum thanks to the sales tax exemption implemented by the government to spur the local automotive industry following disruptions caused by the Covid-19 pandemic.
“With the impressive sales achieved by both UMWT and Perodua year-to-date, we are confident that the momentum will continue in December to achieve our revised sales targets for the year,” he added.
Last year, the UMW group recorded a combined market share of 51.4 per cent with 310,350 units sold by the automotive segment, according to the company’s annual report.
— Bernama
