Vietnam: Positive signs for year-end car shopping
Car sales in Vietnam increased by 52 percent last month after five consecutive months of decline, showing positive signs for the car market at the end of the year.
The Vietnam Automobile Manufacturers’ Association (VAMA) announced that vehicle sales of its members reached 13,537 last month, up 52 percent compared to the previous month.
The total sales of the entire market of VAMA members reached a total of 188,937 vehicles of all types in the first nine months of this year, a year-on-year increase of 5 percent.
Of which, there were 129,896 passenger cars, a year-on-year decrease of 0.3 percent; 54,920 commercial cars, up 19 percent and 4,121 specialised cars, up 56 percent.
Sales reports of companies showed that most of the car sales in the past month witnessed good growth, such as TC MOTOR whose sales grew by 87 percent or VinFast also grew by 51.4 percent compared with the previous month.
Looking at the sales of automobile brands in Vietnam last month, TC MOTOR has risen to lead in sales when selling 4,079 cars. The next position is VinFast, Toyota, Kia, and Mazda.
Meanwhile, a look at the Vietnamese auto market last month showed that, due to the COVID-19 pandemic, sales of VAMA members in August only reached 8,884 cars, down 45 percent compared with the previous month.
August was also the fifth month in a row that the sales of VAMA members fell and also the month with the lowest sales record in the Vietnamese automobile market since 2015.
Businesses said that the growth in sales last month was due to the fact that the COVID-19 pandemic has been controlled thanks to the Government’s pandemic prevention measures.
At the same time, many provinces and cities across the country have relaxed social distancing after months of implementing pandemic prevention and control to enter a new normal state, which has boosted car sales.
Some experts said that with the above growth rate and the pandemic situation gradually controlled, from now to the end of the year, there are nearly three months left which is also the peak shopping period. The Vietnamese auto market could grow at double digits by the end of the year.
However, most consumers as well as many car manufacturers still expect the Government to soon agree to a 50 percent reduction in registration fees as proposed by businesses two months ago to remove difficulties for businesses and customers and stimulate shopping demand in the last months of the year amid the pandemic./.