Auto sales down with 25 percent
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Auto sales fell 25 percent year-on-year in the first eight months to 151,903 units due to the continuing impacts of the Covid-19 pandemic. Passenger cars accounted for 109,694 units, followed by commercial vehicles and special-purpose vehicles, according to the Vietnam Automobile Manufacturers Association (VAMA).
Sales in August, when Vietnam saw a fresh eruption of Covid-19 linked to central Da Nang City, fell 14 percent from July to 20,655 vehicles. This ended a rise in sales for three consecutive months from May. April sales had plummeted after the government imposed social distancing.
Local brand Truong Hai Auto (Thaco) retained the top spot even as its year-to-date sales fell 16 percent to 49,940 units for a 34.3 percent market share.
It was followed by Toyota with 34,743 units and Honda with 14,850 units, both down nearly 30 percent. Mitsubishi and Ford rounded off the top five. On June 28 the government cut first-time registration fees by half for locally made vehicles to foster sales amid the pandemic. The reduction will last through this year before returning to old levels on January 1, 2021. Auto sales had risen 11.7 percent year-on-year to 322,322 units last year.
Questions & Answers
Q.What were the total auto sales in the first eight months of this year?
What were the total auto sales in the first eight months of this year?
Total auto sales for the first eight months reached 151,903 units. This represented a 25 percent drop compared to the same period last year, impacted by the ongoing Covid-19 pandemic.
Q.Which brands made up the top five for sales in the first eight months?
Which brands made up the top five for sales in the first eight months?
Truong Hai Auto (Thaco) held the top spot with 49,940 units sold. Toyota followed with 34,743 units, then Honda with 14,850 units. Mitsubishi and Ford rounded out the top five, though specific figures for them are not provided.
Q.How did the government attempt to boost car sales during the pandemic?
How did the government attempt to boost car sales during the pandemic?
The government cut first-time registration fees by half for locally made vehicles starting on June 28. This measure is intended to foster sales and will remain in effect until the end of this year, returning to previous levels from January 1, 2021.
Q.When did the three consecutive months of sales increases end?
When did the three consecutive months of sales increases end?
The three consecutive months of rising sales, which began in May, ended in August. Sales in August fell 14 percent from July, reaching 20,655 vehicles, following a fresh eruption of Covid-19 linked to Da Nang City.
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