The auto market moved against the normal trend, declining in Novemberafter strong growth in the previous month, but automakers are stillexpecting better sales in the months before the Tet holiday, reports theSaigon Times daily.
The market is normally busierat the final months of a year due to increasing demand for personalcars. However, despite a strong growth rate in October with over 10,280units sold, auto sales of manufacturers in November fell by 1 percent.
Toyota Vietnam, the leading automaker on thedomestic market, sold 2,767 units in November, or a drop of 434 unitsfrom the previous month. Meanwhile, the sales volumes at Ford Vietnamand GM were 780 and 450 units, down 110 and nearly 10 unitsrespectively.
Honda Vietnam and Vinastar sold morecars in November with 709 and 313 units respectively compared to Octoberbut their sales increased slightly.
The VietnamAutomobile Manufacturers’ Association (VAMA) said 10,148 units weresold last month, which was around 1 percent lower than that of Octoberbut still increased by 6 percent from last year’s same month.
In November, the auto market did not follow the common rule ofprevious years, when the demand often rises towards the year’s end.
The falling sales can be attributed to consumers in Ho Chi Minh Cityawaiting a steep fall in the registration fee for small vehicles fromthe current 15 percent to 10 percent, effective from January 1, automanufacturers explained.
At the ongoing meeting, theHo Chi Minh City People’s Council agreed on the proposal to cut theregistration fee on under-ten-seat vehicles to 10 percent instead of 15percent. The new fee is lower than that of 12 percent in Hanoi.
Auto traders in Ho Chi Minh City forecast this month’s sales volumewill drop as buyers will wait until next year to avoid the current highfee.
The Government’s policy of lowering the auto registration fee has partly stimulated the market.
According to VAMA, auto sales can hit 109,000 units this year due tochanges in the fee and tax policies as well as economic recovery.-VNA
The market is normally busierat the final months of a year due to increasing demand for personalcars. However, despite a strong growth rate in October with over 10,280units sold, auto sales of manufacturers in November fell by 1 percent.
Toyota Vietnam, the leading automaker on thedomestic market, sold 2,767 units in November, or a drop of 434 unitsfrom the previous month. Meanwhile, the sales volumes at Ford Vietnamand GM were 780 and 450 units, down 110 and nearly 10 unitsrespectively.
Honda Vietnam and Vinastar sold morecars in November with 709 and 313 units respectively compared to Octoberbut their sales increased slightly.
The VietnamAutomobile Manufacturers’ Association (VAMA) said 10,148 units weresold last month, which was around 1 percent lower than that of Octoberbut still increased by 6 percent from last year’s same month.
In November, the auto market did not follow the common rule ofprevious years, when the demand often rises towards the year’s end.
The falling sales can be attributed to consumers in Ho Chi Minh Cityawaiting a steep fall in the registration fee for small vehicles fromthe current 15 percent to 10 percent, effective from January 1, automanufacturers explained.
At the ongoing meeting, theHo Chi Minh City People’s Council agreed on the proposal to cut theregistration fee on under-ten-seat vehicles to 10 percent instead of 15percent. The new fee is lower than that of 12 percent in Hanoi.
Auto traders in Ho Chi Minh City forecast this month’s sales volumewill drop as buyers will wait until next year to avoid the current highfee.
The Government’s policy of lowering the auto registration fee has partly stimulated the market.
According to VAMA, auto sales can hit 109,000 units this year due tochanges in the fee and tax policies as well as economic recovery.-VNA
