Malaysian vehicle sales up on temporary zero GST

Friday, 17 August 2018 22:54:57 (GMT+3)   |   San Diego
       

The Malaysian government moved the goods and services tax (GST) to zero and it is credited for new vehicle sales of 68,465 units in July, up 41 percent year-on-year from 48,553 units a year ago. According to the Malaysian Automotive Association (MAA) sales were up 6 percent or 3,963 higher than June. Passenger vehicle sales rose 40.6 percent year-on-year to 61,211 units in July, while commercial vehicle sales grew 44.2 percent year-on-year to 7,254 units.

For the first seven months of the year, total vehicle sales climbed 7.6 percent to 358,179 units from 333,006 units a year ago. The GST is set to return in September 1 after a three-month zero period.

In regards vehicle production, July also rose 25.5 percent to 55,164 units from 43,952 units a year ago. Passenger vehicle production rose 26.4 percent year-on-year to 51,165 units in July, while commercial vehicle production increased 15.6 percent year-on-year to 3,999 units. Between January and July 2018, total vehicle production gained 12.3 percent to 336,111 units from 299,270 units.


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