“The group has managed to stage a strong recovery in the second half of the year, thanks to the sales tax exemption implemented by the government to boost the local automotive industry following disruptions caused by Covid-19, ” UMW president and group CEO Datuk Ahmad Fuaad Kenali (pic) said.
PETALING JAYA: The sales tax exemption for car purchases has helped to boost UMW Holdings Bhd
’s automotive subsidiaries and associate companies.
UMW said in a statement yesterday that it was on track to meet its full-year sales target following improved sales achieved by both UMW Toyota Motor (UMWT) and its 38%-associate Perodua for October 2020.
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