Auto sales rise to year high
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Auto sales climbed to 27,252 units in September, the highest monthly number this year, as Vietnam contained its second Covid-19 outbreak.
It represented a 32 percent rise from August, when hundreds of new Covid-19 cases were diagnosed, according to a report by the Vietnam Automobile Manufacturers Association (VAMA).
Passenger vehicles accounted for 75.7 percent of the sales, commercial vehicles for 23.5 percent, and special-purpose vehicles for the rest.
However, sales in the first nine months fell 22 percent year-on-year to 179,155 units as social distancing was imposed in the second quarter due to the disease outbreak and incomes fell.
Local brand Truong Hai Auto (Thaco) retained the top spot with a 34.6 percent share of the market through its sales fell 11 percent to 59,709 units.
It was followed by Toyota with 41,109 units and Mitsubishi with 17,228 units, both representing double-digit declines too.
Honda 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 to 322,322 units last year.
Questions & Answers
Q.Did the rise in September sales improve the overall year-to-date performance for auto sales?
Did the rise in September sales improve the overall year-to-date performance for auto sales?
No, despite the September increase, sales for the first nine months of the year still fell 22 percent year-on-year. This amounts to 179,155 units sold, which is significantly lower than previous periods.
Q.Which specific types of vehicles contributed most to the September sales figures?
Which specific types of vehicles contributed most to the September sales figures?
Passenger vehicles were the primary drivers, accounting for 75.7 percent of the total sales. Commercial vehicles made up 23.5 percent, with special-purpose vehicles comprising the remaining smaller portion of sales.
Q.What measures did the government take to support the automotive industry during the pandemic?
What measures did the government take to support the automotive industry during the pandemic?
The government halved first-time registration fees for locally made vehicles, starting on June 28. This measure aims to boost sales amid the pandemic and will remain in effect until the end of this year.
Q.How did the top auto brands perform in the market despite the overall challenges?
How did the top auto brands perform in the market despite the overall challenges?
Local brand Truong Hai Auto retained the top spot with a 34.6 percent market share, though its sales fell. Toyota and Mitsubishi followed, both experiencing double-digit declines in their unit sales.
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