Automobile sales slump in April
Some 21,942 cars were sold in April this year, a drop of 18 percent over the previous month, according to the Vietnam Automobile Manufacturers’ Association.
Illustrative Image (Source: VNA) During the month, sales of commercial vehicles rose 15 percent to reach 9,562 vehicles, while sales of specialised vehicles fell 6 percent from March to 1,675 units and tourist vehicle sales plummeted 36 percent to 10,70 units.
In the first four months of 2017, total automobile sales were 86,671 vehicles, a rise of 1 percent year-on-year. Sales of tourist vehicles increased 10 percent, while that of commercial and specialised cars fell 8 percent and 18 percent, respectively.
While the domestic assembled cars segment saw a fall of 5 percent in sales to 62,767 vehicles, imported car sales shot up 24 percent year-on-year to 23,904 units.
According to automobile traders, the slump in sales is understandable as customers are expecting cheaper cars in 2018 when tax for some imported cars falls to zero percent.-VNA
You should also see
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
See more
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
Business
HCM City wants to become major partner, customer of NVIDIA: Official
Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai has told the Vice President of Worldwide AI Initiative at NVIDIA, Keith Strier that the city wants to become a major and good partner and customer of the firm in Vietnam.
Business
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
Business
Vietnam needs drastic reforms to create firm ground for economic growth: experts
Drastic institutional reforms are needed to create firm ground for economic growth in the context that persistent challenges, both external and internal, still cloud the growth prospect, experts have said.
