Millennium Grp Corp (Asia)MGC
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Malaysia August vehicle sales fall 2% to 71,428 units
Malaysia's new vehicle market fell 2% year-on-year to 71,428 units in August 2026, down from 73,041 units a year earlier, according to registration data from the Malaysian Automotive Association. The decline followed two months of strong growth supported by accelerating economic expansion, with GDP up 5.8% year-on-year in the second quarter. For the first eight months of 2026, the market expanded 3% to 530,478 units from 516,862 units a year earlier, as passenger vehicle sales rose 4% to 497,595 units while commercial vehicle sales dropped 14% to 32,883 units. Battery electric vehicle sales more than doubled to 47,500 units in the period, led by Proton with 21,840 units, ahead of BYD-Denza at 7,780 and Chery at 3,840. Market leader Perodua's year-to-date sales fell almost 5% to 219,560 units, while Proton's global sales jumped 40% to 141,421 units and Toyota's local sales declined 9.5% to 72,942 units. The MAA raised its full-year 2026 market forecast to 800,000 units from 790,000, while GlobalData expects light vehicle sales to fall 2% to 813,000 units this year.
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Volkswagen Cuts Profit Outlook, Triggering Protests by 100,000 German Auto Workers
Tens of thousands of workers across Germany are staging protests at more than 280 events nationwide, demanding protection for jobs and factories after Volkswagen slashed its profit outlook late Friday. The demonstrations, organized by the IG Metall union, involve employees at Volkswagen, Mercedes-Benz, BMW, Audi, Porsche and major suppliers, with union officials saying as many as 100,000 people are taking part. Volkswagen cited weaker conditions in China, restructuring costs and a 6 billion euro writedown tied to Porsche for the outlook cut. Earlier this month, Volkswagen said it plans to double job cuts globally to 100,000, focused on high-cost plants in Europe and Germany, where the future of several sites remains undecided. The IG Metall chief called for tariffs on Chinese-made cars to be increased and broadened in scope, as Chinese automakers make inroads in Europe and the market in China is down by about a fifth this year.
XPeng Signs LOI with 6 New Partners to Expand Showrooms Nationwide
XPeng Thailand, under Millennium Group Corporation (Asia) Public Company Limited, or MGC-ASIA, has signed a letter of intent, or LOI, with 6 new dealer partners to expand its sales and after-sales service network across 6 strategic areas: Chiang Rai, Nakhon Pathom, Lopburi, Pathum Thani (Lam Luk Ka), Udon Thani, and Nakhon Ratchasima. Apivan Singthaveesak, Chief Executive Officer of XPeng Thailand, said this signing marks an important milestone in expanding the network of showrooms and world-class service centers to cover the greater Bangkok area and key regional cities. The 6 partners stand out for their experience, understanding of local markets, strong customer bases, and readiness to invest. This network expansion is part of XPeng's goal to continuously grow its network and after-sales service to 32 locations nationwide, up from the current total of 20 branches: 11 in Bangkok and its vicinity, 2 in the North, 2 in the Northeast, 2 in the East, and 3 in the South.