PETALING JAYA: The used car industry is on-track to register double-digit growth in sales this year, backed by higher online transactions and better consumer sentiment.
Vehicle saless
PETALING JAYA: Sales of used cars, which have remained solid in the first quarter of this year, are expected to maintain its steady momentum at least until the first half of 2021, led mainly by the on-going sales tax exemption on vehicles.
On a year-on-year basis, Federation of Motor and Credit Companies Association of Malaysia (FMCCAM) president Datuk Tony Khor (pic below) said sales of used cars have been better in the first quarter of 2021, compared with the same period last year.
“The better sales can be attributed to the tax holiday, ” he told StarBiz.Khor added that the economic uncertainty created by the Covid-19 pandemic had also spurred used car sales.