Motor vehicle TIV rose 1.8% in the first half of 2018

PETALING JAYA: Total Industry Volume (TIV) of new motor vehicles for January-June 2018 rose 1.8% to 298,714 units from the 284,453 units recorded in the same period last year, said the Malaysian Automotive Association (MAA).
President Datuk Aishah Ahmad said the higher TIV was contributed by a 2.1% increase in the passenger vehicle segment, or 5,295 units, while the commercial segment registered a very small decline of 0.1% or 34 units.
She said sales volume for June was the highest recorded in 2018, jumping by 50.1% to 64,502 units compared with 42,983 units in May.
"This huge jump was due to the soaring demand for vehicles arising from a reduction in car prices due to the zero-rating of the Goods and Services Tax, attractive Hari Raya promotions and offers by MAA members," she told reporters during a review of the motor industry's performance here today. — Bernama