New Vehicle Sales Summary – only marginal sales increase in August

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New Vehicle Sales Summary – only marginal sales increase in August

Key Points:

♦ The Total Industry Volume (TIV) rose marginally by 1% or 295 units month-on-month compared to the TIV for July.

♦ 46,802 passenger vehicles were registered during August, but this number does not include pick-up trucks which are classified under commercial vehicles.

♦ The same month in 2018 saw a significantly higher TIV due to the surge in sales as a result of no GST being charged. 65,550 vehicles were registered in August 2018, 22% higher than the TIV for August in 2019.

SALES TREND — *Source: Monthly reports of Malaysian Automotive Association*

♦ Cumulative sales from January to August 2019 reached 398,335 units but during the same period in 2019, it was 423,615 units (6% higher).

♦ Production-wise though the gap is closed – 380,940 units for the first 8 months of this year versus 383,498 units in 2018.

♦ The Malaysian Automotive Association (MAA) expects the TIV for September to be similar to that of August due to the number of holidays reducing the selling days available. The severe haze may also distract people from thinking about buying new cars at this time.