After a long gloomy period, the domestic automobile market has warmed up in the last two months.

Luong Thanh Tuan, sales director of Honda My Dinh, confirmed an increase in the number of buyers in November. The bestsellers are domestically assembled car models, such as Honda City and CR-V, thanks to the government’s 50 percent registration tax cut, applied to domestically assembled products. 

The buyers of certain models not only enjoy price discounts offered by manufacturers, but also car dealers.

“We sold 250 cars in October alone. Meanwhile, 200 cars have been ordered so far this month and the figure is expected to increase in the last days of the month,” Tuan said, adding that it is now the best time of the year to buy cars.

Hanoi Ford noted that the sales in November are a bit higher than previous months. A representative of the sale agent said in addition to domestically assembled cars, such as Territory, Ranger and Transit, imported models, such as Everest, and some Rangers versions are also selling well.

“The demand is increasing in the last months of the year. At some moments, we don’t have products to deliver to customers,” he said.

Among Toyota’s models, Vios remains the bestseller. However, a representative of a sale agent noted that many imported models have also caught customers’ attention, such as Yaris Cross, Corolla Cross and Veloz, thanks to specific policies.

“We are offering 50 percent registration tax reduction for gasoline versions of Yaris Cross and Corolla Cross with value of VND33-41 million."

According to the Vietnam Automobile Manufacturers’ Association (VAMA), a new sales record was created with 38,761 cars sold last October, an increase of 5.94 percent over September (36,585), and 52.78 percent over October 2023 (25,369).

Prior to that, sales surged by 45 percent in September in comparison with the previous month, and by 44 percent with September 2023.

Nguyen Van Phuong, a marketing expert, pointed out that a 50 percent registration tax cut has affected the domestic market and imports. As domestically assembled cars have become cheaper thanks to the tax cut, imports have to be cheaper to compete with domestically made products.

Phuong cited a report of the General Statistics Office as saying that 56,301 products were offered in October, including imports and domestic products, a slight increase of 3.3 percent over September.

Hoang Hiep