KUALA LUMPUR, Sept 18 — Vehicle sales in Malaysia was marginally higher in August 2020, rising by 3.0 per cent to 52,800 units from 51,148 units in the same month last year.
In a statement today, the Malaysian Automotive Association (MAA) attributed the higher sales volume to the shorter working period due to the public holidays observed during the month under review.
However, month-on-month, the sales volume for August 2020 was 8.0 per cent lower than the preceding month due to the clearance of backlog of orders in July following the announcement of sales tax exemption incentive.
MAA said production also rose to 50,228 units in August 2020 compared with 47,000 units in August 2019.
Moving forward, it added that the sales volume in September 2020 is expected to be maintained at August 2020’s level, backed by the ongoing promotional campaigns by car companies.
“Consumers’ sentiment remains cautious with the loan moratorium coming to an end on Sept 30, 2020,” it added.