KUALA LUMPUR: UMW Holdings Bhd's automotive segment is on track to meet its full-year sales target, supported by strong sales in November by both UMW Toyota Motor Sdn Bhd (UMWT) and its associate company Perusahaan Otomobil Kedua Sdn Bhd.
UMW said its automotive segment had steadily recovered from the adverse impact on sales as a result of the Covid-19 containment measures earlier this year, with demand boosted by the sales tax exemption incentive by the government.
UMW president and group chief executive officer Datuk Ahmad Fuaad Kenali said it continued to sustain strong sales momentum, thanks to the sales tax exemption to spur the local automotive industry following disruptions caused by Covid-19.
"With the impressive sales achieved by both UMWT and Perodua year-to-date, we are confident that the momentum will continue in December to achieve our revised sales targets for the year," Ahmad Fuaad said in a statement last Friday.
For UMW Toyota, the group said the unit had achieved a total sales of 50,074 units for the first 11 months of 2020 and was poised to exceed its revised sales target of 53,000 units for the year.
"Toyota Vios, Yaris and Hilux continue to be UMW Toyota's best-selling models year-to-date. The newly-revised Vios was launched on November 16, shortly after the announcement of the launch of the newly-revised Yaris," it said.
UMW said Perodua continued to advance strongly towards its year-end target as it recorded sales of 23,119 units in November 2020, including a record-breaking single-day sale of 5,027 units on the last day of the month.
"For the first 11 months of 2020, Perodua has sold 194,983 units, achieving close to 93 per cent of its target of 210,000 units for the year.
"The Myvi continues to be the marque's best-seller year-to-date, followed closely by the Axia and Bezza.
"Perodua will prioritise meeting the outstanding orders by year-end to allow as many of customers to enjoy sales tax-exempt prices while further bolstering the Malaysian automotive ecosystem with over 90 per cent of its components are locally-sourced," it said.