Perodua Conquers 40% of The Total Market Share For The Month of January 2018 - Also Officially Delivers The 18,000th New Myvi To Its Owner

We are now just heading into February of 2018 and Perodua are already making waves.  Based on their internal sales estimation, the Malaysian compact car maker sold 17,693 units for the month of January 2018. This makes it to be Perodua's highest-ever monthly market share of about 40% of the total industry volume (TIV) of 43,930 units. Malaysians are embracing the brand, especially the newly launched Perodua Myvi wholeheartedly.

The internal sales numbers for the models are that 9,029 Myvis, 4,085 Axias, 2,776 Bezzas and 1,803 Alzas have been sold. Perodua President and Chief Executive Officer Datuk (Dr) Aminar Rashid Salleh stated that while they await the official Malaysian Automotive Association (MAA)’s numbers, they are cautiously optimistic that for January 2018, their monthly market share is the highest ever in Perodua's history. 

Malaysians are really happy with the brand, even the Perodua Alza, which has been around for a while already managed to sell over 1,800 units (This compact MPV looks ripe for an upgrade and this looks like the next to be revamped). 

“This was spurred by deliveries of the new Myvi, as well as continued strong demand for our other models,” Datuk Aminar Rashid said at the company’s Chinese New Year Luncheon with the media and business partners yesterday. He also added that newly launched Perodua Myvi has 48,000 bookings to date and it does look like more bookings would be coming in from the looks of it.

Perodua President and Chief Executive Officer Datuk (Dr) Aminar Rashid Salleh and Perodua Sales Sdn Bhd Managing Director Dato' Dr Zahari Husin present a mock key to the 18,000th new Perodua Myvi owner, Mr Wong Wai Cheng, 25, of Negeri Sembilan.

So in conjunction with the 18,000th Myvi, which is quite a prosperous number,  Perodua also held a small handing over ceremony to deliver the car to its owner, Mr Wong Wai Cheng of Negeri Sembilan. Wong, who is 25 years old, received the keys to his brand-new Lava Red Myvi 1.5 Advance from Perodua Sales Sdn Bhd Managing Director Dato’ Dr Zahari Husin.

Mr Wong liked the Myvi’s spacious interior yet compact dimensions which make it very easy to park and manoeuvre. He also mentioned that with the six airbags and Advanced Safety Assist, the new Myvi offers him a lot of safety features but above all, the built-in toll card reader is his favourite feature

But this does not mean that only 18,000 Myvis have been delivered. To date, 20,000 units of the new Myvi have been delivered making it the most popular new car in Malaysia over the past two months. Taking into account the total number of bookings (48,000), Perodua is now playing catch up in terms of delivering cars to its customers. 

“To those who have placed orders for the new Myvi and have yet to receive their cars, we sincerely apologise for the wait. Rest assured that we are ramping up production to get the cars to you as quickly as we can. The Perodua Manufacturing Sdn Bhd plant will continue to work overtime until demand stabilises,” Datuk Aminar said. 

We personally think that with the ramping up of production, Perodua could deliver most of the Myvis within a period of three months from the time of booking. There is also the issue where Perodua is also regularising production of the Myvi as initially they expected 55% of the sales to be of the 1.5liter and 45% for the 1.3liter. Instead, 85% of the sales are for the 1.5liter and from that portion, a large part of it is the 1.5 Advance. 

It seems Malaysians like more power and are willing to pay for it. Which begs the question...there seem to be more people who want the more expensive Myvi when we hear complains of costs going up and all that. Of course, we also have to take note that Perodua also states that their current loan approval rates for Perodua hire-purchase loans stand at only 49%. This obviously means 51% will get their loans rejected...and they're still hitting record sales numbers. Go figure.

Datuk Aminar also mentioned that the better than expected demand for our latest offering as well as our current model line-up have resulted in better demand for local parts. Perodua is looking to purchase more than RM5 billion in components and parts this year from mainly local vendors. 

According to them, this will further contribute towards the growth of the Malaysian economy. As Perodua models have over 90% local content, everything is quite internalised in terms of product sourcing. So the money spent by Perodua actually goes back into the Malaysian economy.