Car sales from January to November this year fell 10 per cent year on year to 244,670 units, despite a pick-up in November.

For November alone, sales of cars of all kinds went up 13 per cent on a monthly basis, after months of declining, to 24,752 units.

Industry experts said the domestic auto industry is unlikely to achieve the 10 per cent growth forecast by the Vietnam Automobile Manufacturers’ Association.

The likely failure comes despite car businesses running year-end sales, cutting prices of cars from few dozens to hundreds of millions of dong.

Many consumers are still waiting for steeper price cuts from January 2018, as tariffs on completely built-up cars imported from ASEAN nations will fall to zero under the ASEAN Free Trade Agreement.

Automobile sales in 2016 hit a record high in 20 years, with 304,427 units sold. — VNS