Car imports in November dropped 10.4 percent month on month to 12,237 units, according to initial statistics of the General Department of Vietnam Customs.
Sales of automobiles in November went up 9 percent against the previous month to 36,359 vehicles, according to Vietnam Automobile Manufacturers’ Association (VAMA) said on December 10.
Sales of automobiles by members of the Vietnam Automobile Manufacturers’ Association (VAMA) in October surged 22 percent against the previous month to reach 33,254 units.
Sales of automobiles by members of the Vietnam Automobile Manufacturers’ Association (VAMA) in October surged 22 percent against the previous month to reach 33,254 units, indicating consumption is recovering to pre-pandemic levels.
Customers have scrambled to buy automobiles before the end of 2020 to enjoy the 50 percent reduction in registration fees, making the auto market more robust as compared to the situation at the outset of the year.
More than half a billion dollars in tax returns have been awarded to firms since 2017 in a bid by the Government to boost the country's auto industry and supporting industry, according to deputy director of the General Department of Vietnam Customs Luu Manh Tuong.
The domestic automobile industry was forecast to thrive, given the Government’s supports in tax policies for imported automobile components coupled with the increasing income of citizens, according to a report by the Viet Dragon Securities Corporation (VDSC).
Sales of automobiles in September increased 32 percent against the previous month to reach 27,252 units, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on October 10.
Automobile sales in August were down 14 percent against July, to 20,655 units, despite the introduction of a range of promotional programmes, according to the Vietnam Automobile Manufacturers’ Association (VAMA).
Car dealers are offering huge incentives for customers to promote sales as the economic impacts from the pandemic persist and the lunar month of July is around the corner.
Sales of automobiles plunged 28 percent year-on-year to 131,248 units in the first seven months of this year, according to the Vietnam Automobile Manufacturers Association (VAMA).
Several automakers are considering assembling their best-selling models in Vietnam due to the Government’s policy of zero import tariffs on components and a 50 percent reduction in registration fees.
The Vietnam Motor Show 2020, scheduled for October 29 – November 1, will be cancelled due to the complicated developments of COVID-19, announced the Vietnam Automobile Manufacturers’ Association (VAMA) and the Vehicles Importers Vietnam Association (VIVA) on August 4.
The domestic automobile market is expected to thrive in the second half of 2020 after a long stagnation due to the COVID-19 pandemic, driven mainly by the Government’s great support and strong discounts from dealers.
Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold 24,002 automobiles in June, up 26 percent compared to the previous month but down 13 percent year on year.
The Ministry of Finance has officially asked the Government to cut 50 percent of the registration fee for customers who buy locally-produced and assembled automobiles.
The sales of automobile surged 62 percent month-on-month in May following the end of social distancing measures, according to the Vietnam Automobile Manufacturers’ Association (VAMA).
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XIII National Congress of Communist Party of Vietnam
