Malaysia’s distributive trade recorded sales of RM92.7bn in July, dipped by -14.7% yoy following 10.3% decline in June 2021. The fall marked the second straight months of decline and the lowest in 14 months since May 2020. A substantial contraction was recorded in motor vehicle sales which plummeted by 85.4% yoy in July, extending 92.4% drop in June. Similarly, retail and wholesale trades fell by 8.1% yoy and 1.1% yoy, respectively.
Sales value of motor vehicles sub-sector plummeted by 85.4% yoy (RM11.8bn) to RM2.0bn, following 92.4% drop in the previous month. This fall was higher due to the decline in all sub-components of motor vehicles. A total of 7,086 units were delivered in July 2021, which was 5,165 units or 268.9% higher than the 1,921 units sold in June. On a year-on-year basis, total industry volume (TIV) dipped by 88.0% from 58,878 units sold in the same period a year earlier. Meanwhile, year-to-date July 2021, Malaysia's new vehicle sales increased 10.2% to 256,215 units from 232,423 units.
Sales of retail trade decreased by 8.1% yoy or RM3.6bn to RM41.1bn. The negative growth was due to retail sale of automotive fuel in specialised stores (-14.1%), retail sale of other goods in specialised stores (-11.1%), and sale in non-specialised stores (-10.8%). Meanwhile, wholesale trade generated sales value of RM49.5bn in July, dropped by RM0.5bn (-1.1% yoy) mainly due to the decrease of wholesale on a fee or contract basis which fell 22.1% to settle at RM0.7bn. This was followed by wholesale of household goods -12.1%, wholesale of machinery, equipment & supplies -10.4% and non-specialised wholesale trade -1.2%.
On a monthly basis, the sales value of wholesale & retail trade rebounded by 0.5% in July after 14.8% drop in June. Sales of motor vehicle and retail increased by 118.6% mom and 1.4% mom, respectively. However, wholesale trade sub-sector declined for the second month by 2.4% mom.
Source: BIMB Securities Research - 13 Sept 2021
Created by kltrader | Aug 12, 2024
Created by kltrader | Aug 12, 2024
Created by kltrader | Aug 09, 2024
Created by kltrader | Aug 09, 2024