Vehicle sales in August up nearly 3% to RM12.3b - Business News | The Star Online

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Vehicle sales in August up nearly 3% to RM12.3b


  • Economy
  • Friday, 13 Oct 2017

KUALA LUMPUR: The sales value of motor vehicles in August rose at a slower pace of 2.8% to RM12.3bil from a year ago, according to Statistics Department.

It said on Friday the sales value slipped from the RM12.4bil recorded in July when sales value grew 9.8% on-year.  Vehicle sales are part of the country's wholesale and retail trade.

The volume index of vehicles increased by 1.4% to 128.7 points in August 2017. The seasonally adjusted volume index of vehicles advanced 1.8% in August 2017 from July.

As for the sales value of vehicles business registered, data showed it slipped 0.2% compared with the previous month.

The report also pointed out the sales value of the country's wholesale and retail trade was RM97.7bil in August 2017, which was a 9.8% growth from a year ago.

“The sales value consists of wholesale trade (RM47.4bil), retail trade (RM38bil) and vehicles (RM12.3bil) businesses,” it said, adding the positive growth was contributed by retail trade (13.4%).

The department said the volume index of wholesale and retail trade rose 7.9% to 158.3 points in August 2017 from a year ago,  underpinned by  higher retail trade ( 11.9 %). 

The seasonally adjusted volume index of the wholesale and retail trade expanded 1.2% from July.

Wholesale trade business

The volume index of wholesale trade increased by 6.2% to 169.4 points in August 2017 from a year ago.  

Month-on-month,  the volume index (seasonally adjusted) increased 3.8%  as against the previous month.

“The sales value of wholesale trade business registered 8.9% growth to RM47.4bil as compared to the corresponding month of the previous year. Month-on-month, sales value of this business increased 3.3%,” it said.

Retail trade business

The volume index of retail trade rose 11.9% to 158.8 points in August 2017 from a year ago.

When compared to July 2017, the seasonally adjusted volume index of retail trade recorded negative growth of 1.1%.

The retail trade business recorded a 13.4% increase in sales value to RM38bil from a year ago. But when compared with July, this business registered a 0.7% decline.
 

Economy

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