KUALA LUMPUR: New vehicles sales in August 2018 rose 26.8 per cent year-on-year (YoY) to 65,551 units from 51,716 units in the same period 2017, according to the Malaysian Automotive Association (MAA).
MAA said the increase was attributed to the zerorisation of the Goods and Services Tax (GST), which in turn had lowered vehicles prices.
It expects sales volume for September to be lower than August as much of the purchases had been concluded before the end of GST tax holiday from June till August.
Year-to-date (YTD), the total industry volume (TIV) grew 10 per cent to 423,730 units from 384,722 units in the same period last year.
On a month-on-month basis, however, new vehicles sales dropped 4.26 per cent or 2,914 units lower to 65,551 units from 68,465 units sold in July.
MAA president Datuk Aishah Ahmad said the lower units recorded in August this year was due to the depletion of some models in car distributors’ inventories and the unavailability of stocks, citing that most cars had been sold in June and July.
In terms of production, the industry produced 8.47 per cent or 3,699 units higher in August 2018 to 47,387 units compared to 43,688 units in August 2017, while YTD, new vehicles production stood at 383,498 units or 11.82 per cent higher than the same period recorded last year.