UMW Holdings automotive segment posts improved sales in October

PETALING JAYA: UMW Holdings Bhd’s automotive segment posted improved sales in October, driven by both UMW Toyota Motor (UMWT) and 38% associate company Perodua, as the sales tax exemption from June 15 to Dec 31, 2020 announced by the government has helped to lift sales in the second half of the year.

For the month, the group’s share of the automotive market is estimated at 58%, a significant improvement from 51.4% registered in 2019.

UMWT sold 6,468 units in October, a 15.4% increase from the units sold in the previous month, with Toyota Vios, Yaris and Hilux models being the top contributors.

Having already sold 43,807 units for the first ten months of 2020, the group said UMWT is on track to achieve its revised sales target of 53,000 units for the year.

Meanwhile, Perodua broke its monthly sales record again in October, with total registration of 26,852 units, a 7.3% increase from the 25,035 units in September 2020.

UMW revealed that the associate company has sold 171,864 units in the first ten months of the year, corresponding to 81.8% of its 210,000 units sales target for the year. Furthermore, its two plants have been running almost at its maximum capacity since August in order to meet the strong demand.

UMW president and group CEO, Datuk Ahmad Fuaad Kenali commented that it has managed to stage a strong recovery in the second half of 2020, 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,” he said in a statement.