AUTOMOTIVE SEGMENT TO SPEARHEAD UMW HOLDINGS’ FINANCIAL PERFORMANCE IN THE SECOND HALF OF 2020
- UMW Toyota Motor sold 7,509 units in July 2020
- Perodua registered sales of 23,203 units in July 2020
KUALA LUMPUR, 5 August 2020 – Spearheaded by its Automotive segment following encouraging sales achieved by UMW Toyota Motor (UMWT) and its 38%-associate company Perodua in July, UMW Holdings Berhad is looking forward to an improved financial performance in the second half of 2020. The Group’s automotive market share is estimated at 52% in July, higher than the 51.4% registered in 2019. The improved sales in the month of July was mainly due to the sales tax exemption announced by the government on 5 June, effective from 15 June to 31 December 2020.
UMWT sold 7,509 units in July, its highest for the year, 70.0% more than the 4,417 units registered in June. Toyota Vios continues to be its best-selling model in July, contributing about 34% of its total sales. Earlier in June, UMWT introduced the all-new 5th generation Toyota RAV4, a fully-imported Sports Utility Vehicle (SUV) from Japan.
Meanwhile, July marked Perodua’s highest monthly sales for the year, with registered sales of 23,203 vehicles, a 9.2% increase from the 21,250 units sold in June. Perodua is also increasing production at both its assembly plants to meet the strong demand.
UMW Holdings Berhad Acting President and Group CEO, Azmin bin Che Yusoff said, “Both UMWT and Perodua staged a strong recovery following disruptions to sales earlier this year due to Covid-19, and we are encouraged by the promising sales registered by both UMWT and Perodua in July. We are also thankful to the government for introducing economic stimulus packages and implementing sales tax exemption to boost the automotive industry in Malaysia. With these measures in place, we are confident of achieving our sales targets for the year.”
Consistent with the increase in vehicle sales, the Group’s Manufacturing & Engineering (M&E) segment is also seeing rising demand for auto components and lubricants from both the OEM and REM markets. Its lubricants business in China has returned to pre-Covid-19 level.