Illustrative image (Source: VNA) Hanoi (VNA) – A total of 23,065automobiles were sold in the domestic market in May, up 9 percent against theprevious month, reported the Vietnam Automobile Manufacturers’ Association(VAMA).
Of the figure, 15,397 are passenger cars,showing a month-on-month increase of 13 percent. Meanwhile, 6,890 commercialand 778 special-purpose vehicles were sold in May, down 8 percent and 36percent, respectively.
In terms of origin, the number of domestically-assembledvehicles was 19,467 and that of imported automobiles was 3,598, representingmonth-on-month rises of 9 percent and 12 percent respectively.
According to the VAMA, as many as 103,746vehicles of all types were sold in the domestic market in the first five monthsof 2018, down 6 percent over the same period last year.
The sales of passenger cars saw an annual riseof 6 percent while the sales of commercial and special-purpose vehicles sufferedrespective year-on-year declines of 19 percent and 37 percent.
In the January-May period, a total of 87,426domestically-assembled vehicles were handed over to buyers, up 10 percentagainst the same period last year. The sales of imported automobiles dropped 46percent to 16,320.
According to experts, the strong fall ofimported cars in the five-month period was due to businesses’ failure tocomplete procedures as requested in the Government’s Decree No.116/2017/ND-CP, whichstipulates the conditions for production, assembly, import and business ofautomobiles, and their warranty and maintenance services.
No batch of cars was imported in Vietnam in thefirst two months of 2018, according to the VAMA.
In March 2018, only Honda Vietnam imported thefirst batch of automobiles which are subject to zero percent import duty underthe ASEAN Free Trade Agreement (AFTA), which became effective from January 1,2018. At the end of April, these cars were put for sale.
In April, GM Vietnam imported a batch ofChevrolet Trailblazer for distribution, and was put for sale in early May.
Various car models of popular brands such asToyota, Ford, Chevrolet, and Suzuki will be imported into Vietnam in late Juneand July, creating fierce competition between domestically-assembled andimported cars.-VNA
VNA
