sales Archives

VinFast Reveals Most EV Sales Are Linked To Related Party

VinFast, a Vietnamese electric vehicle (EV) manufacturer, has raised eyebrows due to its sales distribution. Reports indicate that over half of VinFast’s electric vehicles sold this year, approximately 7,100 units out of 11,300, were purchased by Green and Smart Mobility (GSM), a Vietnamese taxi company. GSM is under the umbrella of Vingroup, the parent company of VinFast. This data was disclosed in VinFast’s filings to the US Securities and Exchange Commission in July and September.

VinFast made headlines when its stock price soared dramatically after its listing through a special purpose acquisition company (SPAC) in the previous month. Despite having sold only 24,000 vehicles in the entire previous year, at one point in September, the company’s market capitalization reached a staggering $200 billion. This valuation briefly placed VinFast among the world’s most valuable automakers, surpassing established giants like Volkswagen, Ford, and General Motors, despite the latter’s significantly larger sales volumes.

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Proton Maintains Sales Growth As Of July 2023

Proton continued its impressive sales trend in July with 13,326 (domestic + export) units sold, building on a solid first half of 2023. The amount represents a 16.1% rise over July 2022 and contributes to year-to-date (YTD) sales of 90,647 units, the company’s first breach of the 90,000-unit threshold since 2012 and a 26.6% increase over the prior year. Market share for July is anticipated to be 20.5%, bringing the year-to-date market share to 21%.

The success of Proton is set against a background of rising vehicle sales, with total industry volume (TIV) for July predicted to reach 64,864 units. This raises the monthly total by 29.9% over the corresponding month in 2022 and raises the year total by 12.9%. As a result, Proton’s sales performance through July of this year had been 14% better than the industry average.

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New Record For Vehicle Sales In March 2023

March was the final month for delivery of new vehicles that were exempted from sales tax, the provision having been allowed by the Finance Ministry after the tax exemption ended on June 30, 2022. Understanding that the demand had been very great as many people wanted to save on the sales tax, and production was not sufficient to fulfill the orders by the deadline, the ministry allowed the car companies until March 31, 2023 to deliver the vehicles booked before the deadline.

The 9-month allowance was certainly appreciated as the industry had production disruptions due to shortages of parts, especially microprocessors. During the second half of last year, vehicle output was inconsistent even though efforts were being made to maximise the numbers, with priority being given to the tax-exempted orders.

Furthermore, March is also the end of the financial year for some car companies and there is usually a final strong push to end the financial year with the best numbers. Thus the March Total Industry Volume (TIV) of new vehicles shot up by 24% to reach 78,849 passenger and commercial vehicles.

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Hap Seng Star Opens Upgraded Mercedes-Benz Autohaus in Bukit Tinggi, Klang

The Klang Valley has the largest concentration of motor vehicles in the country and obviously, also a large proportion of Mercedes-Benz vehicles. For this reason, the network of outlets – known as Autohaus – is quite extensive in the Klang Valley to serve the many customers.

In Bandar Parklands, near Klang, Hap Seng Star has a Mercedes-Benz Autohaus in the Bukti Tinggi area which was set up in view of the prominent and established township. “We want to be where our customers are, and deliver to them the best customer services and retail experience. In today’s context, we are cognisant that the customer experience is equally as important as the product offering, and thus, together with Mercedes-Benz, we aim to capitalise on the immense auto business opportunities within the Bukit Tinggi region and growing it into a significant auto hub in the years to come,” said Harald Behrend, Group Chief Operating Officer of Hap Seng Consolidated Berhad and Chief Executive of Hap Seng Group’s Automotive Division.

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Record Month For Perodua With 27.5% Increase In Quarterly Sales Volume

During the final month of the first quarter of 2023, Perodua made a big push in production and sales to cross the 30,000-unit level, setting records in the process. The two plants completed 33,666 vehicles while 32,179 vehicles were delivered nationwide.

The March numbers added to those of January and February took first quarter production to 84,800 units while sales were 78,564 units. These represented increases of 33.9% and 27.5%, respectively, over the volumes reported for the same period in 2022.

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Big Increases in February Sales For Most Brands With 29% Higher Cumulative Volume

After the drop at the start of the year, sales for almost all brands picked up again in February, even though this is the shortest month of the year and typically sees low sales. However, with the urgency to deliver vehicles to those customers who had booked prior to the June 30 2022 deadline for sales tax exemption, many companies rushed to get vehicles registered.

_{Data source: Monthly reports of Malaysian Automotive Association.}

Among the non-Malaysian makes, Toyota has again gotten off to strong start as an indication of its determination to retain the lead in the segment. However, Honda will be putting in a strong challenge this year as it has announced that there will be three all-new models, one of which is known to be the WR-V compact SUV. This takes the brand into Perodua and Proton territory as it will be a rival for the Ativa as well as the X50.

The erratic production volumes reflect the disruptions caused by shortage of parts, especially microprocessors which are needed for the many electronic systems in today’s vehicles. Just one microprocessor not available and the vehicle cannot be completed. Some manufacturers have even taken to sending vehicles out with some features omitted due to the systems lacking the necessary microprocessor. However, some stability is beginning and the plants are able to push out more vehicles.

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March should see higher numbers as well since it is the final month for deliveries of those long outstanding orders. It’s also usually a strong month because it is the end of the financial year for some car companies, so there is maximum effort to close their books with the best numbers of the year. And there are also promotions for the Hari Raya festive season to attract buyers.

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Perodua In ‘Overdrive’ With Higher Output And Deliveries This Year

As expected, the first quarter of this year will see a continued boom time for the car companies, at least in terms of deliveries. Many have thousands of orders waiting to be fulfilled and there’s an urgent need to deliver to customers who booked before June 30, 2022 because they are entitled to sales tax exemption.

If they do not have their new vehicle registered by March 31, 2023, then their sales tax exemption will be forfeited and they will have to pay more. However, some companies absorb the sales tax and Perodua is one of those that has confirmed it will do so for those customers whom it cannot supply vehicles to in time.

The Malaysian carmaker has also been in ‘overdrive’, along with its suppliers and dealers, during the first two months of this year. The total volume of vehicle delivered to customers nationwide was 46,385 units, up 33% from 34,865 units in the same period last year. Likewise for production, there was a 32.95% increase in out from the two plants to 51,134 units from 38,460 units last year.

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Proton Maintains Positive Upward Trajectory In Growing Market

With the car market continuing its steady recovery, helped by two festive seasons that will occur during the first quarter of the year, sales for Proton have been booming. Compared to the same month in 2022, the February sales volume this year was 52% higher with 14,033 units (domestic and export) delivered.

The volume was 20.1% higher than January while for the first two months of the year, the year-to-date volume has increased to 88% to 25,714 units. Where market share is concerned, it was estimated to be 22.7% as the official market data has not been released by the Malaysian Automotive Association (MAA) yet.

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Perodua To Maintain Growth Momentum With Investments In Innovations And Capacity Expansion

It’s pretty much expected that when the official numbers for 2022 are announced by the Malaysian Automotive Association (MAA) in the near future, Perodua will again be at the top of the list. It has been the bestselling brand since 2006 and its volumes have grown steadily over the years.

Last year, the increase in sales was 48.2% over the year before, taking the total volume to 282,019 units. To meet the demand, production naturally had to rise in tandem and 289,054 units were delivered by the two factories, an increase of 49.5%.

Being No.1 for so long has not made the Malaysian carmaker complacent; in fact, it has never taken its leadership position for granted and has planned its progress carefully and thoughtfully. This was particularly important to face the challenges of the past two years during the COVID-19 pandemic as well as other issues affecting the industry.

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Honda Stays At No.1 Position In Passenger Vehicle Sales in Malaysia For 2022

While we await the official data from the Malaysian Automotive Association (MAA) for the sales and production of new motor vehicles in 2022, some of the companies are already announcing their numbers. Among them is Honda Malaysia which reports that it delivered more than 80,200 units during the year, more than the target of 80,000 units that it had set. This was a 51% increase over the previous year’s sales volume.

The achievement keeps Honda in the No.1 position in the non-national passenger car segment (which excludes pick-up trucks and commercial vehicles) for the ninth consecutive year since 2014. During the year, the brand also recorded its highest ever sales in Malaysia with more than 10,500 units delivered nationwide.

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sales

VinFast Reveals Most EV Sales Are Linked To Related Party

Proton Maintains Sales Growth As Of July 2023

New Record For Vehicle Sales In March 2023

Hap Seng Star Opens Upgraded Mercedes-Benz Autohaus in Bukit Tinggi, Klang

Record Month For Perodua With 27.5% Increase In Quarterly Sales Volume

Big Increases in February Sales For Most Brands With 29% Higher Cumulative Volume

Perodua In ‘Overdrive’ With Higher Output And Deliveries This Year

Proton Maintains Positive Upward Trajectory In Growing Market

Perodua To Maintain Growth Momentum With Investments In Innovations And Capacity Expansion

Honda Stays At No.1 Position In Passenger Vehicle Sales in Malaysia For 2022

VinFast Reveals Most EV Sales Are Linked To Related Party

Proton Maintains Sales Growth As Of July 2023

New Record For Vehicle Sales In March 2023

Hap Seng Star Opens Upgraded Mercedes-Benz Autohaus in Bukit Tinggi, Klang

Record Month For Perodua With 27.5% Increase In Quarterly Sales Volume

Big Increases in February Sales For Most Brands With 29% Higher Cumulative Volume

Perodua In ‘Overdrive’ With Higher Output And Deliveries This Year

Proton Maintains Positive Upward Trajectory In Growing Market

Perodua To Maintain Growth Momentum With Investments In Innovations And Capacity Expansion

Honda Stays At No.1 Position In Passenger Vehicle Sales in Malaysia For 2022

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