Domestic auto sales inch up 6% in May

Wednesday, Jun 12, 2024 21:57

Local auto sales in May increase 6% from the previous month to 25,794 units. — VNA/VNS Photo

Domestic auto sales in May increased 6% from the previous month to 25,794 units, as dealers rolled out stimulus measures to spur consumption, according to the Vietnam Automobile Manufacturers’ Association (VAMA).

Of these, the sales of passenger cars rose 6% against April to reach 18,235 while commercial vehicle deliveries grew 7% to 7,292. In the meantime, those of special-purpose vehicles contracted 4% to 267 autos.

In terms of vehicle origins, nearly 12,000 locally-assembled cars were sold in the month, up only 0.02%. Deliveries of completely-built units (CBUs) expanded 12% to 13,809 over a month earlier.

During the five-month span, VAMA members sold a total of 108,309 autos, with the sales of domestically produced units falling 14% and imported vehicles rising 8% year-on-year.

Other brands like Audi, Jaguar Land Rover, Mercedes-Benz, Nissan, Subaru, Volkswagen, Volvo, Haval and many more refused to disclose their figures.

There were also no sale results from VinFast as the Vietnamese automaker has announced its quarterly from August 2023 as required by the US stock market.

Based on reports from VAMA and TC Group, 127,643 automobiles were delivered to customers during January-May.

Experts said the sales of CBUs had a better growth than those of domestic ones since the imported vehicles with a localisation rate of 40% or more are entitled to a 0% tariff under several free trade agreements that Việt Nam has signed.

Besides, Vietnamese dealers ran various promotional campaigns, including giving discounts, supporting registration fees and offering gift packs, helping imported units attract more buyers.

They added that the Government should roll out rational measures to create competitive edge for domestically-assembled vehicles for a long term. — VNS

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