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The 6% Goods and Services Tax (GST) will be scrapped from 1 June onwards in Malaysia, which explains why the new car market dives 15.1% year-on-year in May to just 42.983 units as car purchases have been postponed to June when prices will automatically go down by 6%. Year-to-date volumes are now down 3.8% to 225.212. Brand leader Perodua has played its home market to perfection by choosing to offer a 6% rebate during May that effectively cancels the GST one month in advance. As a result, it is one of only 10 carmakers out of 45 present in the Malaysian market to register a year-on-year gain this month, and a large one at that: a whopping 28% that enables Perodua to break the symbolic 50% market share barrier for the first time in history at 51.1%. This is a staggering 8.8 percentage points above its previous share record of 42.3% established just last month. It is the third time in the past four months that Perodua breaks its all-time market share record in Malaysia after lifting it to 42.2% last February. Kia (+1%) is the only other Top 10 manufacturer in positive, with Honda (-12%) falling slower than the market but Toyota (-67%), Proton (-43%), Isuzu (-40%), BMW (-37%), Mercedes (-33%), Mazda (-32%) and Nissan (-23%) all freefalling.
Previous month: Malaysia April 2018: Perodua breaks record share again at 42.3%
Full May 2018 Top 45 All-brands ranking below.