The Malaysian Automotive Association (MAA) has released vehicle sales date for the month of July 2020, which shows a total of 57,552 units delivered in the month. This represents an increase of 12,857 units or 29% from the previous month of June, continuing the upward trend that we saw in May as well.
The total number of vehicles sold in July 2020 is also up by 6,698 units, or 13%, when compared to the same month in 2019. However, looking at the year-to-date numbers, only 232,245 units have been sold until the end of last month, which is 114,926 units or 33% less than the corresponding period last year, where 347,171 units were shifted.
The association attributes the promising results to the sales tax relief that was put in place by the government in June, which has seen vehicle prices decreased. This is further helped by the aggressive promotional campaigns put out by car companies and a longer working month.
For the month of August 2020, MAA expects sales volume to be maintained at the July level, as the sales tax holiday and additional sales promotions help to encourage buyers to shop for cars.
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