Despite sluggish sales in the domestic market, automobile imports in May still reached around 4,500 units, up roughly 1,000 units over April, according to the General Statistics Office (GSO).
In the first five months of this year, imports reached 17,600 units worth 301 million USD, up 2.1 percent in volume but down 2.6 percent in value compared to the same period last year, the GSO reported.
Car dealers said that they are facing difficulties due to a lack of buyers, despite widespread price reductions.
A director of a large HCM City import car company, who declined to be named, complained that he sold only two cars in April compared to between 30-40 cars in the same month last year.
His company now has 130 cars in stock and he must find a way to sell them in order to obtain enough revenue to pay bank debts.
Director of Tradoco Pham Huu Tam said that his company sold dozens of cars this time last year, but current sales were down to two or three cars a month, even though he had cut prices and offered incentives such as paying car ownership registration tax.
A Hanoi car dealer explained that it is very difficult to sell cars now because there are too many choices thanks to the large numbers of imports.
A representative from Hoan Cau Car Company revealed that his company sold just three cars in April, adding that his company had decided to change its business strategy and would focus on trading medium-range cars priced at between 17,000 USD and 50,000 USD, instead of luxury cars.
To curb the country's high trade deficit, the Ministry of Industry and Trade has added cars to its list of import restrictions and the General Department of Customs has put automobiles on its list of goods that need to be tightly controlled./.
In the first five months of this year, imports reached 17,600 units worth 301 million USD, up 2.1 percent in volume but down 2.6 percent in value compared to the same period last year, the GSO reported.
Car dealers said that they are facing difficulties due to a lack of buyers, despite widespread price reductions.
A director of a large HCM City import car company, who declined to be named, complained that he sold only two cars in April compared to between 30-40 cars in the same month last year.
His company now has 130 cars in stock and he must find a way to sell them in order to obtain enough revenue to pay bank debts.
Director of Tradoco Pham Huu Tam said that his company sold dozens of cars this time last year, but current sales were down to two or three cars a month, even though he had cut prices and offered incentives such as paying car ownership registration tax.
A Hanoi car dealer explained that it is very difficult to sell cars now because there are too many choices thanks to the large numbers of imports.
A representative from Hoan Cau Car Company revealed that his company sold just three cars in April, adding that his company had decided to change its business strategy and would focus on trading medium-range cars priced at between 17,000 USD and 50,000 USD, instead of luxury cars.
To curb the country's high trade deficit, the Ministry of Industry and Trade has added cars to its list of import restrictions and the General Department of Customs has put automobiles on its list of goods that need to be tightly controlled./.
