August car sales drop 10 percent

Automobile sales in August dropped by 10 percent from the previous month to 18,236 units, according to the Vietnam Automobile Manufacturers’ Association (VAMA).

They were sold by both VAMA members and completely-built-up (CBU) non-VAMA member car importers.

As many as 10,309 passenger cars were sold in August, down 11.5 percent from July, while the number of commercial vehicles fell 8.8 percent to 7,168 and that of special-purpose units decreased by 9.6 percent to 759.

The industry recorded a 10-percent decline in the sales of domestically-assembled cars to 13,516 and an 11-percent reduction in the purchase of imported CBUs to 4,732.

The Truong Hai Auto Corporation (THACO) continued to take the lead with 6,401 cars sold, down 6 percent monthly. It was followed by Toyota with 3,893 cars (down 14 percent) and Ford with 1,353 units (down 4 percent).

Some companies attributed the sales tumble to the Vietnamese cultural tradition of avoiding buying expensive things, such as cars, in the seventh lunar month generally regarded as the Ghost Month, which coincided with August this year.

However, the sales volume in August still spiralled 45 percent year on year, the VAMA noted.

Total automobile sales from the year’s outset to the end of August still shot up 57 percent compared to the same period last year. Meanwhile, the sales of domestically-assembled cars and those imported surged by 54 percent and 67 percent yearly, respectively.-VNA