car sales Archives

“Sambung Bayar” Car Involved In Robbery

So, you’re considering a “sambung bayar” deal to sell your car while there’s still an outstanding loan in your name? Maybe it’s time to reconsider.

As reported by NST, Amir (not his real name) faced a double setback after losing his job when his car, surrendered to a repossessor under the impression of a legitimate “sambung bayar” arrangement, was later found to be involved in a robbery.

In a state of desperation, Amir opted for the “sambung bayar” practice through an agent, hoping to find a new owner to take over his loan. This would allow him to navigate the financial strain of his outstanding loan without the burden of the car.

However, the situation took an unexpected turn. Instead of finding a legitimate new owner, the repossessor paid Amir RM1,000 and sold his car to an individual who was supposed to continue servicing the loan. This misrepresentation left Amir both financially and emotionally burdened, highlighting the potential risks and pitfalls associated with such transactions.

Unfortunately, the new owner misused Amir’s car and failed to continue servicing the loan, leaving Amir in a dire situation. Despite never meeting this new owner, Amir learned from the police that his car had been used in a robbery.

Regretting his decision to surrender the car to the repossessor for illegal resale, Amir, a former aircraft engineer, faced a daunting situation, worsened by financial challenges due to the pandemic’s impact on the airline industry.

Siva, another victim of this deceptive practice, sought help from a man who promised to find a buyer for his Perodua Alza to settle his loan. This man convinced Siva to lodge a report to seemingly legitimise the transfer of ownership.

The new owner initially paid Siva’s loan for a year, giving a false sense of relief. However, payments stopped, leaving Siva in a precarious situation. Through persistence and resourcefulness, Siva managed to recover his car, settling the loan and ensuring a fair resolution for all parties involved.

35% increase in UMW Toyota Motor’s sales volume in first 6 months of 2022

UMW Toyota Motor has been having a good year so far, with sales headed upwards each month. And after 6 months, the cumulative volume for Toyota and Lexus vehicles delivered nationwide has reached 45,911 units. That’s an impressive 35% increase over the 34,111 units delivered during the same period in 2021.

Strong sales were evident almost every month, in spite of the supply issues that affect many car companies. June alone contributed 8,939 units (of which 69 units were of the Lexus brand), which was almost 1,500 units more than the May volume.

With the end of the sales tax exemption, UMWT is expecting some negative impact although it is not likely to last long. This is mitigated with some early signs of recovery on the global shortage of semiconductors and microchips in the second half of this year. This will enable production to ramp up and will allow the company to introduce further new models.

“Shifting gears into the second half of 2022, UMW Toyota Motor is focused on going the ‘ExtraMile’ to provide Toyota owners with the best ownership and after-sales experience by reimagining what ownership is about. Looking ahead, shifting consumer behaviour will likely place value on advanced automotive technologies and comprehensive security features supported by a host of value-added aftersales services,” said Ravindran K, President of UMW Toyota Motor.

“At UMW Toyota Motor, we offer owners not only the best technological advancement at their fingertips for a smoother and safer drive, we go the ExtraMile to enhance their ownership journey. Through financial and insurance packages, top-notch servicing and Toyota 24/7 roadside assist, we are confident in delivering an unforgettable journey from the starting line by taking great care of our customers from the moment they enter our doors,” he explained.

Toyota Veloz coming soon (Thai version shown).

New Veloz coming soon
The company is looking forward to launching the all-new Toyota Veloz which is a premium crossover model. The 7-seater was launched in Indonesia last November and has been well received. Depending on the market, the Veloz is considered as a new model line or as a successor to the Avanza. In Malaysia, UMWT says it will replace the Avanza and comes with the highest specification and advanced features.

The model will have a 1.5-litre DVVT engine and have an estimated price of RM95,000 (without insurance). Bookings are now accepted prior to the launch and from what we hear, there’s a lot of interest, especially with its promise of good fuel efficiency, safety and extensive list of features.

All-new Toyota Veloz to replace Avanza, bookings now open

May new vehicle sales fell to less than 50,000 units due to production issues causing supply shortage

*Source: Monthly reports of the Malaysian Automotive Association (MAA).*

The Total Industry Volume (TIV) of new sales in May was 12% lower than the TIV for April, dropping below 50,000 units. Contributory factors were the reduced number of working days due to the Hari Raya Aidilfitri holidays but of great impact was the shortage of new vehicles to deliver.

Many car companies have a large number of orders but cannot fulfill them as the auto industry continues to be affected by the global microprocessor shortage and logistics delays. As the microprocessors are essential for the many electronic systems in today’s cars. their inavailability means the cars cannot be completed.

Compared to the same month in 2021, the TIV this year was 5% higher and when the cumulative volume for the first 5 months of 2022 is compared to the same period in 2021, the deliveries are higher by 7.4% at 264,656 units.

Although there is the microprocessor shortage and other issues affecting production, the assembly plants around the country were able to produce 16% more vehicles than for the same month in 2021, This year, total output was 49,154 units, made up of 45,518 passenger vehicles (excluding pick-up trucks) and 3,636 commercial vehicles (including pick-up trucks). The latter segment saw a bigger increase of 54% in volume compared to May 2021.

The Malaysian Automotive Association (MAA) expects sales in June to be higher. With no further extension of the sales tax exemption confirmed, many car-buyers will be rushing to place their bookings before the end of the month when the exemption ends. However, the Finance Ministry recognises that the industry has been having difficulties supplying vehicles to meet the backlog of orders and will allow those who book before June 30, 2022 to enjoy the exemption even if they do not get their new vehicle by then. However, they must get it registered by March 31, 2023.

Perodua relieved that customers can still get sales tax exemption if vehicles delivered after June 30

Perodua is relieved that the Ministry of Finance (MoF) will allow car-buyers to remain entitled to the sales tax exemption even though the provision ends at the end of this month. A recent announcement by the MoF said that those who book their vehicle by June 30, 2022, will still pay the lower price even if their vehicles are not delivered yet.

However, manufacturers will have to deliver the new vehicles to them before March 31, 2023 as that is the latest date they must register their vehicles if they want to enjoy the sales tax exemption.

“We sincerely thank the government for this announcement as it gives the industry and the market breathing room to meet consumers demand while at the same time give the players time to overcome various issues that are affecting the industry,” said Perodua President & CEO, Dato’ Zainal Abidin Ahmad.

He said among the issues that are currently impacting the local automotive suppliers range from the lingering impact of COVID-19, the component shortages and manpower shortages. These have led to vehicle supply shortages as vehicles cannot be completed. As a result, customers have had to wait longer and have been concerned that they will miss out on their tax exemption benefit if they get their vehicles are June 30.

“The issues are currently being addressed as Perodua and our suppliers are finding solutions and this registration extension will give us much needed room to overcome the issues,” Dato’ Zainal said. He added that, for Perodua’s customers, this announcement gives them much needed reassurance that they would be able to enjoy the sales tax exemption incentive that has boosted the industry since the year 2020.

*Myvi remains the bestselling model for the Malaysian brand.*

“To date, we have significant outstanding orders which we are working to fulfil. We appreciate our customers’ patience in this regard,” Dato’ Zainal said. On deliveries so far, he said that Perodua has registered 106,179 vehicles between January and May this year, which is 10% more than 96,281 units registered in the same period last year.

In terms registration according to model, the Myvi remains the most popular with 31,689 units registered in the first 5 months of this year. Next has been the Axia with 24,024 units delivered, and the Bezza at 23,336 units.

To know more about Perodua products and services or to locate a showroom for a test-drive, visit www.perodua.com.my.

No further exemption of sales tax after June 30, but registration can be in 2023

No further exemption of sales tax after June 30, but registration can be in 2023

New vehicle prices in Malaysia are high due to the high tax rates imposed and because taxes from vehicle sales contribute such a huge amount of revenue, the government has never been able to bring itself to lower tax rates. However, as part of the national recovery plan to boost the nation’s economy after the depression caused by the COVID-19 lockdowns, sales tax was exempted to lower purchase costs.

As always, being able to sell cars at lower prices helps, and the the exemption was initially given from mid-June 2020 to the end of that year. The lowered prices attracted many to buy new vehicles, in spite of uncertainties about the future due to the pandemic. The brisk sales certainly helped the car companies in their recovery and it was hoped that the exemption could be extended a bit longer.

The Finance Ministry agreed and gave another 6-month extension to the end of June, 2021. The exemption applied to vehicles assembled locally as well as those imported in CBU (Completed Built-Up) form. The former would get full exemption of sales tax which is 10%, while the CBU models would qualify for half the exemption, ie 5%. However, the exemption was not applicable to commercial vehicles and pick-ups.

Appeals by the Malaysian Automotive Association (MAA) for a further extension saw the Finance Ministry allowing another period of exemption till the end of 2021. While demand remained high, the industry was hit by the global microprocessor shortage which affected production of vehicles, and the industry asked for another extension as it was still recovering. The Finance Ministry was again agreeable, allowing the extension to the end of June 2022.

RM4.7 billion tax not collected
To date, a total of 868,422 units of vehicles have been sold (during the period of sales tax exemption) and the government has sacrificed RM4.7 billion of taxes, according to the Finance Ministry.

In the past month, the industry has been hopeful that the government will again extend the exemption till the end of 2022. But this time, it looks like the expiry date will not change. The government believes that with the opening of the economic sector, the automotive sector has returned to normal operations.

It does recognise that there are supply issues due to the microchip shortage that prevents vehicles from being completed, and therefore there is a backlog of orders to be met. Many who have made bookings months ago are concerned that they will not enjoy the lower prices with tax exempted if their vehicle is not delivered and registered by the last day of this month. The Finance Ministry is aware that at least 264,000 vehicles already ordered during the exemption period have not been delivered to buyers due to not being available.

*The global shortage of microprocessors used in vehicle electronic systems has affected production and there is a shortage of vehicles for delivery.*

Register vehicle by March 2023
As a compromise, while the government will not extend the exemption period, it will allow those who have booked new vehicles up till June 30, 2022 to have the exemption even if their vehicle is not delivered yet. They must however register the new vehicle with JPJ by March 31, 2023, which should be enough time for delivery.

“The extension of the vehicle registration period is a mid-point solution to balance the interests of consumers and national tax revenue that needs to be increased post-pandemic to ensure the welfare of the people and the country’s economic well-being continue to be preserved,” said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

So if you thought that because there’s a long backlog of orders for the vehicle you want to buy and there is no point booking now, if you do so before the end of the month, you will still enjoy the lower price with sales tax exemption.

UMW Toyota Motor sees sales increase in spite of semiconductor issues affecting production

UMW Toyota Motor (UMWT) continues to maintain its position in the non-national category with 7,442 units of Toyota and Lexus vehicles sold in May. Added to the cumulative volume for the first 4 months, this brings the company’s total sales in 2022 to 36,972 units at the end of May.

With almost 37,000 units sold, the cumulative volume for the first 5 months of 2022 is 9% higher than for the same period in 2021 which was 34,026 units. This increase is despite the forecast that vehicle sales in Malaysia will be slow for the rest of the year due to shortage of completed vehicles.

While there was no issue of shortage of semiconductors last year to prevent carmakers from completing vehicles, this is the situation in 2022 is making it difficult to achieve higher outputs to meet demand.

The strong demand up till now has also been driven by the expectation that sales tax (or GST) will be resumed after the end of June 2022 (although there are now rumours that it could be extended again). This has persuaded many car-buyers to make their purchase before the end of June in order to enjoy the savings.

“As we rev up for the second half of this year, we at UMW Toyota are truly appreciative and emboldened by the support we have received from our customers. It has always been our policy to put our customers first and we are always ready to extend our assistance to the many Toyota fans as we journey out of these uncertain times. We are looking forward to continued confidence in our products and servicing capabilities, backed by our advanced automotive technology and comforted by the security features of all our products. Here’s to a more positive outlook forging ahead,” said Ravindran K, President of UMW Toyota Motor.

Continuing with the monthly promotions, UMWT has offers worth RM4,000 for those who want to become owners of the Yaris or Vios. There are also money-saving offers for other models in the form of cash rebates.

UMW Toyota has new models in the pipeline for the second half of the year so they are expecting a further increase in numbers.

The company is also looking forward to running the Toyota GAZOO Racing Festival on June 25/26 at the Sepang International Circuit. While the highlight of the event is the Vios Challenge one-make race, there are also other activities for all the family. Entry is free during the two days but the public should observe social distancing and wear facemasks to protect themselves as well as others around them. Click here to read more about the upcoming Toyota GAZOO Racing Festival.

2022 Toyota Camry 2.5V – more than just a mid-cycle refresh with a brand new engine

23% drop in new vehicle deliveries in April

While March saw a big surge in new vehicle sales to take the Total Industry Volume (TIV) past the 70,000-unit level, April’s TIV fell by 23% to 56,213 units of passenger and commercial vehicles.

The decline was attributed by the Malaysian Automotive Association (MAA) to the following reasons – 1) the ongoing global shortage of microchips as well as certain components and logistics delays, and 2) companies with their financial year ending in March put in maximum effort to close with the highest volume.

While the TIV for April 2021 was 4% higher, the cumulative volume after the first 4 months of this year is 8% higher, with 215,965 vehicles sold. This is made up of 140,905 units of passenger vehicles (excluding pick-up trucks) and 25,560 of commercial vehicles (including pick-up trucks).

Local production has, likewise, also been higher in the first 4 months of 2022, compared to the same period in 2021. The combined output from all the assembly plants was 208.894 units, 10,418 units more than in 2021.

The output in April was also higher this year, with 54,734 units produced, compared to 51,390 units in the same month last year.

Although May is a short working month due to the long holidays during the Hari Raya Aidilfitri period, the MAA expects that the TIV can be as high as April’s. Many companies still have a backlog of orders to fulfill and even if the market takes a ‘breather’, the numbers can still be high. Nevertheless, how many units that can actually deliver will depend on how many vehicles can be completed given the shortage of microchips.

March new vehicle sales rocket past 70,000-unit level

*Data source: Monthly sales reports compiled by Malaysian Automotive Association.*

With output from the plants increasing, deliveries in March rose by 62.5% from February to pass the 70,000-unit mark which is one of the highest (if not the highest) in the industry’s history.

Apart from having more stocks, some of the companies with financial years ending on March 31 also put in their final effort to close with the highest possible numbers. Additionally, March also had many business days to sell cars although for many customers, there would still be a lengthy wait, especially for the more popular models.

With the Finance Minister having indicated that the exemption for sales tax won’t be extended again, there is also a rush by customers to get their new vehicles and save money. Again, due to the large number of orders and backlog, some companies are already warning customers that they might not be able to enjoy that saving as their vehicle might not be available before the end of June when the exemption period ends.

Compared to the same month the year before, the Total Industry Volume (TIV) for March 2022 was also notably higher by 13%.

The global shortage of microchips continues to affect carmakers locally as well as in other countries. Members of the Malaysian Automotive Association (MAA) expect that output will still be disrupted and imported vehicles may not be coming in large numbers.

This is likely to cause April’s TIV to fall in spite of festive promotions for the coming Hari Raya Aidilfitri. The big push in March may also diminish orders although many companies still have a backlog of orders to fulfill.

February 2022 New Vehicle Sales, by Brand

Data for BMW and MINI is only provided by BMW Group Malaysia every three months. Data for Kia, Peugeot and Volkswagen not available at this time. Data for Mercedes-Benz is not available as Mercedes-Benz Malaysia does not wish to reveal their sales data. Source: Malaysian Automotive Association.

iCar Asia Launches “CarListBid.my” A New Bidding Platform For Car Buyers, Sellers & Dealers

Our friends over at iCar Asia have been busy! They’ve recently announced the launch of CarlistBid.my, an exciting new platform connecting car sellers to dealers in a safe and trusted environment. Taglined Malaysia’s Most Trusted Car Bidding Platform, CarlistBid.my utilises iCar Asia’s existing database of sellers and buyers, the largest network in the country, with over three million ready sellers and more than three thousand dealers. Following the launch in Malaysia, the platform will be rolled out to iCar Asia’s operations in Thailand and Indonesia.

(L-R) KY Gan, Group Sales Director, iCar Asia, Ng Soo Jin, Managing Director, Regal Valet, Georg Chmiel, Executive Chairman, iCar Asia, Hamish Stone, Chief Executive Officer, iCar Asia, and Yee Chin Beng, Chief Financial Officer, iCar Asia

Along with the launch of the platform, iCar Asia also launched the flagship inspection hub next to Regal Valet Auto Detailing Outlet in Kampung Sungai Penchala. Hamish Stone, Chief Executive Officer of iCar Asia (below), said “The auction business adds a compelling fast and convenient option for private car sellers and fleet owners to sell their cars to an existing base of car dealers. Over a four-month testing period, CarlistBid.my has closed over RM2.1 million in sales within an average of five days per sale completion. We achieved this with a test group of just 100 out of the over 3,000 dealers that already work with Carlist.my, highlighting our ability to scale up this service in the coming months. With a network of approximately 12 million monthly visitors per month that are potential car sellers – plus over 10,000 existing seller accounts and potential auction bidders across the region – iCar Asia is well placed to scale this business up over the coming months,” he added.

CarlistBid.my works in four simple steps; Request, Inspect, Bid, Sold. Sellers need only to submit a request online, anytime and schedule a complimentary car inspection and car valuation service. Once the bidding terms are agreed, the auction will be opened to bidding among certified Carlist.my Trusted Dealers nationwide. Upon acceptance of the best offer, CarlistBid.my staff will assist with the ownership transfer procedures as well as final payment.

“In order to increase efficiency, we have opened our flagship inspection hub here, in Kampung Sungai Penchala, so that sellers can directly bring in their car for inspection. We will be looking to open more inspections hubs around Malaysia in the near future. We strive to provide the most convenient, flexible and above all safest service to our customers. Which is why all our dealers go through a stringent process of verification to ensure that these are serious, reputable dealers. In cases of dispute, we will also step in to mediate the situation to ensure that both our buyers and sellers come out with a mutually beneficial deal. ” said Stone.

Stone concluded: “We expect to follow the launch of this service in Malaysia with launches in Thailand and Indonesia in the coming months. This is another step for iCar Asia in building out its core proposition to consumers and dealers and extending our market leading position as the largest and most trusted automotive portal network in the ASEAN Region.”

For more information on CarlistBid.my, visit www.carlistbid.my

• CarlistBid.my is a car bidding platform for car dealers to buy used cars, utilising iCar Asia’s existing
database of sellers and buyers, the largest network in Malaysia and the ASEAN Region
• Following the launch in Malaysia, the platform will be rolled out in iCar Asia’s operations in Thailand
and Indonesia
• The platform has achieved RM2.1 million worth of sales within a four months test period across the
Group
• This new proposition complements iCar Asia’s core business and provides a new transaction based
revenue stream, which is expected to contribute to the Company’s growth in the second half of 2018

Piston.my

car sales

“Sambung Bayar” Car Involved In Robbery

35% increase in UMW Toyota Motor’s sales volume in first 6 months of 2022

May new vehicle sales fell to less than 50,000 units due to production issues causing supply shortage

Perodua relieved that customers can still get sales tax exemption if vehicles delivered after June 30

No further exemption of sales tax after June 30, but registration can be in 2023

UMW Toyota Motor sees sales increase in spite of semiconductor issues affecting production

23% drop in new vehicle deliveries in April

March new vehicle sales rocket past 70,000-unit level

February 2022 New Vehicle Sales, by Brand

iCar Asia Launches “CarListBid.my” A New Bidding Platform For Car Buyers, Sellers & Dealers

“Sambung Bayar” Car Involved In Robbery

35% increase in UMW Toyota Motor’s sales volume in first 6 months of 2022

May new vehicle sales fell to less than 50,000 units due to production issues causing supply shortage

Perodua relieved that customers can still get sales tax exemption if vehicles delivered after June 30

No further exemption of sales tax after June 30, but registration can be in 2023

UMW Toyota Motor sees sales increase in spite of semiconductor issues affecting production

23% drop in new vehicle deliveries in April

March new vehicle sales rocket past 70,000-unit level

February 2022 New Vehicle Sales, by Brand

iCar Asia Launches “CarListBid.my” A New Bidding Platform For Car Buyers, Sellers & Dealers

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