STOCK SAHAM.CO

UMW Group 3Q2022 automotive sales at 93,972 units, highest quarter YTD

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KUALA LUMPUR: The UMW Group recorded automotive sales of 93,972 units for the third quarter of 2022 (3Q2022), representing the highest quarter of units delivered for the year. In 2Q2022, the group recorded sales of 89.183 units.

In a statement, the group said that UMW Toyota Motor (UMWT) and UMW’s associate company Perodua, both saw higher sales in 3Q2022, as they continued to fulfil their outstanding bookings.

For the cumulative nine months of 2022, the UMW group has delivered a total of 267,226 units, 62% higher than the 165,211 units registered a year ago, which saw its sales affected by the implementation of the Full Movement Control Order (FMCO) from June 1 to Aug 15, 2021.

Notably, UMWT continued with strong sales in September 2022 with 9,233 units, resulting in a 6% increase in its automotive sales, hitting 24,961 units in 3Q2022, compared to 23,464 units in 2Q2022.

Its best selling models include Toyota Vios, Hilux, Corolla Cross and Yaris, with a new Toyota Veloz expected to launch soon.

For the first nine months of 2022, UMWT registered 70,872 units in sales, a 54% growth, in contrast with its 46,118 units in 2021.

Conversely, Perodua’s sales fell slightly to 24,626 units in September 2022, from 26,039 units in August 2022.

Nonetheless, Perodua’s sales for 3Q2022 was higher at 69,011 units, with a 5% increase from 2Q2022. The first nine-months of 2022 saw a 65% surge in sales to 196,354 units, from 119,093 units.

UMW Holdings Bhd president and group CEO Datuk Ahmad Fuaad Kenali said in the statement that UMWT and Perodua’s demand remains strong, as evident from the encouraging sales registered in 3Q2022.

“Furthermore, the outstanding bookings for UMWT and Perodua remain robust, and both companies will continue to intensify production to hasten delivery to our customers.

Supported by improving supply chain and barring unforeseen circumstances, we are confident of achieving our sales targets for the year,” he added.

At the time of writing, UMW Holdings Bhd’s share price increased by 12 sen or 3.76% to RM3.31. Its market capitalisation is at RM3.88 billion.

Source : The Edge Markets

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