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Malaysia June 2020: Perodua (+32.5%), Proton (+26.4%) take full advantage of sales tax exemption, lift market back up 4.9%

Perodua hits its second highest-ever market share at home in June.

27/08 update: Now with Top 40 All-brands.

Malaysia is turning out to be one of only a handful of worldwide markets to deliver a quick V-shaped recovery post-lockdown: after stopping in April (-99.7%) and dropping -62.5% in May, new car sales in the country are already back in positive in June at +4.9% year-on-year to 44.695 units. This means the year-to-date tally is now down -41% halfway through 2020 at 174.675. One capital element to the Malaysian market’s recovery is the set of relief measures announced by the government under the Penjana economic stimulus plan, which include a 100% sales tax (SST) exemption on locally-assembled (CKD) models and 50% on fully-imported (CBU) models, which began on June 15 and is effective until December 31.

In the segment detail, Passenger Vehicles are up 6.1% to 40.944 for the month and down -41.3% to 158.876 so far in 2020 while Commercial Vehicles drop -6.5% to 3.751 in June and -37.9% YTD to 15.799. The Malaysian Automobile Association (MAA) has communicated further H1 2020 detail, that shows passenger cars down -33.6% to 120.367, SUVs down -57.1% to 28.801, MPVs off -55.5% to 9.233 and window vans down -71.6% to 475. Among Commercial Vehicles, pickups drop -34.1% to 10.900, trucks are down -44.9% to 3.556, panel vans fall -40.9% to 866, prime movers are off -54.2% to 310 and buses down -45.4% to 167.

Limited brands data is available for now and logically it shows the two local carmakers sporting stunning year-on-year gains as they are best positioned to benefit from the full 100% sales tax exemption. Perodua surges 32.5% to 47.5% share, its second-highest ever below the 51.1% it hit in May 2018. Its volume is also the highest since last October. Proton also posts a spectacular gain at +26.4% to 21.5% share and its second-largest volume of the year. As a result Perodua and Proton add up to a mammoth 69% share of Malaysian sales in June. In contrast, Toyota (-16.8%), Nissan (-33.5%) and Honda (-38.4%) all freefall in the remainder of the Top 5.

Proton communicated sales of the Saga sedan at 4.447 units, its highest volume since August 2014 and bettering its previous best over the period of 4.275 last October. The X70 sold 1.909 units in June and became the best-selling SUV in the country over the First Half.

Previous month: Malaysia May 2020: Proton Saga best-seller in market down -62.5%

One year ago: Malaysia June 2019: Proton (+23.4%), Renault (+60.1%) defy freak market loss (-29.4%)

Full June 2020 Top 40 All-brands ranking below.

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