Car sales down 34 per cent in January
As many as 30,742 cars were sold in Viet Nam in January, a decline of 34 percent compared to the previous month, according to the Viet Nam Automobile Manufacturers Association.
As many as 30,742 cars were sold in Viet Nam in January, a decline of 34 per cent compared to the previous month, according to a report issued by the Viet Nam Automobile Manufacturers Association.
Of the sold units, 25,279 were passenger cars, down 31 per cent year-on-year; 5,177 were commercial vehicles, down 44 per cent; and 286 were special-purpose vehicles, down 53 per cent.
Sales of domestically assembled cars reached 17,782 units in January, a month-on-month decrease of 31 per cent, while imported completely built units were 12,960 units, down 38 per cent.
A 50 per cent reduction in the registration fee, which came into effect in December 2021 and will last until the end of May this year, was a reason why customers preferred domestically assembled cars.
However, experts said these figures did not fully reflect the situation in Viet Nam’s automobile market, as they did not include sales of brands such as Audi, Jaguar Land Rover, Mercedes-Benz, Subaru, Volkswagen, and Volvo.
TC Motor and VinFast were reported to sell 7,428 and 2,103 vehicles in January. If figures from TC Motor and VinFast are included, a total of 40,273 units were sold across the country during the month.
Hyundai led all brands in January sales with 7,428, followed by Toyota with 6,582; Kia, 5,445; Honda, 3,771; and Mitsubishi, 3,581.
Representatives of TC Motor and domestic automobile assemblers and manufacturers attributed the decline in car sales to difficulties in car registration and other shopping demands during the Tet (Lunar New Year) Festival.
But they believe that the manufacturing and assembling, as well as domestic auto market, will continue to grow this year with the Government’s supporting measures and the COVID-19 pandemic gradually being better controlled.
According to General Director of Ford Viet Nam Pham Van Dung, it is forecast that domestic sales will hit 500,000 units in 2022 as the country’s economy is recovering and a 50 per cent reduction in the registration fee for domestically assembled cars will be applied until the end of May. — VNS
