A total of 15,799 units of commercial vehicles were registered in 1H of 2020, a 38 per cent decrease from the 25,456 units sold in the same period last year.
Government to Exempt 100% Sales Tax for CKD Vehicles
Based on the sales data released by the Malaysian Automotive Association (MAA), the total industry volume for the first half of the year 2020 is 174,675 units, including 158,876 units of passenger cars and 15,799 units of commercial vehicles.
Compared to the same period of 2019, there was 296,317 units, which is a decline of 121,642 units, or 41.1 per cent. Passenger and commercial vehicles are both affected by the drop.
Delving deeper into the figures relating to commercial vehicles, a total of 15,799 units were registered in first half of 2020, a 38 per cent decrease from the 25,456 units sold in the same period last year.
During the month of June 2020, a total of 3,751 vehicles were sold, which saw a drop of 6 per cent as compare to 4,011 units in the same month last year, highlight the steps forward the sector has taken post MCO.
The improvement was due to the sales tax exemption incentive for Completely-knocked down (CKD) vehicles and Completely built-up (CBU)vehicles under the PENJANA plan by the government.
Under this incentive, the government agreed to exempt 100 per cent sales tax for CKD vehicles and 50 per cent on CBU cars.