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Malaysia July 2020: Proton (+53.9%) hits highest volume in over 8 years in market boosted by tax exemptions (+13.2%)

The Proton X70 breaks its all-time volume record this month. Picture

The Malaysian new car market continues to be boosted by the government’s stimulus plan in July, with sales surging +13.2% year-on-year to 57.552 units, meaning the year-to-date tally is now down -33.1% to 232.245. The Malaysian Automotive Association (MAA) is anticipating H2 2020 sales stable on the same period in 2019 which would mean 2020 volumes should drop roughly -20% to 475.000 units. The stimulus plan includes 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. MAA is now only making complete brands data available quarterly, a regrettable development that follows the end of models data reporting in 2015… However the Top 2 carmakers in the country, locals Perodua and Proton have thankfully taken it onto themselves to communicate more and more precise data as the months go by.

The truth is these two manufacturers are able to fully benefit from the 100% sales tax exemption, selling only locally-assembled vehicles. Perodua (+16.5%) maintains itself above the symbolic 40% share mark at 40.3% and hits its largest monthly volume in 2020 at just above 23.000 units. The manufacturer says its Myvi, Axia and Buzz are Malaysia’s top three best-selling vehicles year-to-date, with 29.313, 28.107 and 25.416 units respectively so far this year. As for Proton (+53.9%), it sells over 13.000 units to soar to its best monthly result in over 8 years: since June 2012. The Saga (5.421) reaches its highest sales result since April 2014 (6.307), the X70 (3.087) remains by far the best-selling SUV in the country and breaks its all-time volume record (previous best 2.896 in February 2019), the Persona (3.043) hits its best volume since December 2019 (3.365), the Iriz (873) is at its highest since July 2019 (976) and the Exora (792) at its best since August 2016 (855).

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

One year ago: Malaysia July 2019: Proton (+9%) only island of growth in market logically down -25.7%

Full July 2020 Top 2 brands ranking below.

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