Car sales in November failed to meet expectations even though the year-end shopping season has started and despite various discounts of up to hundreds of millions of dong.
Members of the Vietnam Automobile Manufacturers' Association sold a combined 29, 846 units in November, up only 3 percent from the previous month.
According to the Vietnam Automobile Manufacturers' Association (VAMA), its members sold a combined 29,846 units in November, up only 3 percent from the previous month but down 3 percent from the same period last year.
If sales of TC Motor included, the total number came to 35,638 units.
However, some brands such as Audi, Jaguar, Land Rover, Mercedex-Benz, Subaru, Volkswagen, Volvo, and VinFast did not announce their sales. As a result, the above figure did not reflect the actual purchase power in the market.
Total sales for the 11-month period added to 289,128 units, up 14 percent on a yearly basis, including 212,361 passenger cars (up 23 percent), 71,954 commercial vehicles (down 3.9 percent) and 4,813 special purpose vehicles (down 27 percent).
Industrial insiders hoped that sales would accelerate in the last month of the year when the shopping season reaches its peak./. VNA
Vietnam’s automobile industry is small compared to regional markets and local suppliers are asking for more support from the Government.
Prime Minister Nguyen Xuan Phuc has instructed the Ministry of Finance (MoF) to look at taxes and fees related to automobile manufacturing and assembly in order to help the sector grow.