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Brunei records 10.7pc rise in car sales
The first seven months of 2020 witnessed an increase of 10.7 per cent in the number of cars sold in Brunei Darussalam, compared to the same period last year.
Some 7,612 units were sold from January to July, compared to 6,877 units, statistics from the Asean Automobile Federation revealed.
June recorded the highest jump in car sales with 43.5 per cent, where 1,214 cars were sold, followed by February with 38 per cent (1,108 units) and April with 10.9 per cent (964 cars sold).
Besides Brunei Darussalam and Myanmar (which also recorded positive car sales surge of 11.1 per cent), other Asean member countries experienced negative growth in car sales in the first seven months of this year, ranging as high as from 27 per cent to a 53 per cent drop.
According to the data, Indonesia sold 286,215 units (January to July), Malaysia 232,245, Myanmar 11,795, the Philippines 105,583, Singapore 26,887, Thailand 387,975, and Vietnam 131,248.
On the whole, the total car sales in Asean plunged to 40 per cent. Some 1,189,560 units have been sold from January to July this year, compared to 1,985,553 units last year.
The Malaysian Automotive Association, in its market performance in August 2020, said that sales volume in August 2020 was three per cent higher than the similar corresponding month in 2019.
However, the sales volume for August 2020 was eight per cent lower than July 2020. The July 2020 TIV was higher, due to clearance of backlog orders after the announcement of sales tax exemption incentive. Sales volume was also lower, due to a shorter working month in August 2020, brought on by a few festive holidays.
As for Outlook for September 2020, MAA said the sales volume in September 2020 is expected to be maintained at the August 2020 level, due to ongoing promotional campaigns by car companies. In addition, consumers’ sentiments remain cautious, with the loans moratorium coming to an end by September 30.
Source: https://borneobulletin.com.bn/2020/10/brunei-records-10-7pc-rise-in-car-sales-2/