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.
Malaysian Automotive Association (MAA) president Datuk Aishah Ahmad said the exemption would greatly benefit the auto sector, considering the economic uncertainties created by the Covid-19 pandemic. PETALING JAYA: The vehicle sales tax exemption, which is supposed to end tomorrow, has been extended until June 30,2021. Malaysian Automotive Association (MAA) president Datuk Aishah Ahmad said the exemption would greatly benefit the auto sector, considering the economic uncertainties created by the Covid-19 pandemic. “We’re very pleased that the government has chosen to extend the sales tax exemption. It will benefit not just the automotive industry, but also the public and financial institutions, ” she told StarBiz.
28 December 2020 6:36 pm / 12 comments The used car market in Malaysia, like the automotive industry as a whole, was severely affected by the arrival of the Covid-19 pandemic, though the local market has seen a rebound with the introduction of government incentives, and a flat year-on-year growth is expected for this year, Used car businesses were severely impacted between March and May as a result of the movement control order, said the president of Federation of Motor and Credit Companies Association of Malaysia (FMCCAM) Datuk Tony Khor, who noted that the used car industry will effectively have had only nine months of business this year compared to other years.