The Automotive segment of UMW Holdings Berhad is on track to meet its full-year sales targets following improved sales achieved by both UMW Toyota Motor (UMWT) and its 38%-associate company, Perodua, in the month of October 2020.
The Group’s automotive market share is estimated at 58% in October, a significant increase from the 51.4% registered in 2019. The sales tax exemption announced by the government on 5 June 2020, effective from 15 June 2020 to 31 December 2020 has helped to lift sales in the second half of the year.
UMWT sold 6,468 units in October 2020, an increase of 15.4% from the 5,605 units it sold in September. The top sales contributors for the month were Toyota Vios, Yaris and Hilux.
Having already sold 43,807 units for the first ten months of 2020, UMWT is on track to achieve its revised sales target of 53,000 units for the year.
On 2 November 2020, UMWT announced the launch of the newly-revised Toyota Yaris and opened its order books for registration. The Yaris was launched as a CKD model back in April 2019 and has been consistently number one in the Non-National hatchback segment. With further enhancement of its design and features, UMWT is confident that it will maintain its market leadership in this segment.
Meanwhile, Perodua once again broke its monthly sales record in the month of October, with total registration of 26,852 units, a 7.3% increase from the 25,035 units in September 2020. For the first ten months of 2020, Perodua sold 171,864 units, 81.8% of its target to sell 210,000 units for the year. Perodua’s two plants have been running almost at its maximum capacity since August in order to meet the strong demand.
According to UMW Holdings Berhad President and Group CEO, Ahmad Fuaad Kenali, the Group has managed to stage a strong recovery in the second half of the year, thanks to the sales tax exemption implemented by the government to boost the local automotive industry following disruptions caused by the pandemic.
“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.”