UMW EXCEEDS 2020 VEHICLES SALES TARGET

7 JAN 2021

KUALA LUMPUR: UMW Holdings Bhd has exceeded its vehicle sales targets for 2020 following strong sales achieved by both UMW Toyota Motor (UMWT) and its 38-per cent associated company, Perodua.

In a statement today, UMW said the sales tax exemption announced by the government, which took effect from June 15, 2020, boosted demand and drove sales in the second half of the year.

"UMWT registered its highest monthly sales for the year in December 2020 with 9,246 units sold, culminating in total sales of 59,320 units for 2020.

“This exceeded the 53,000-unit sales target for 2020 with Toyota Vios, Yaris and Hilux being UMWT’s best-selling models for the year,” it said.

Meanwhile, Perodua sold 25,171 units in December 2020, bringing its total sales for 2020 to 220,154 units, beating its target of 210,000 units for the year.

UMW's president and group chief executive officer, Datuk Ahmad Fuaad Kenali said the demand recovery in the second half of last year was driven by the sales tax exemption under the government's National Economic Recovery Plan (Penjana), which augurs well for the Malaysian automotive ecosystem.

“We are humbled by the support given by our customers that drove the performance of our automotive segment in 2020 despite the challenges caused by the COVID-19 pandemic.

"We would like to express our appreciation to the government for the sales tax exemption as well as its extension to June 30, 2021, which will hasten the recovery of the automotive sector," he said. - Bernama