November auto sales rise to year high as government halves registration fee
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November saw the highest monthly auto sales this year of 38,656 units as a discount in registration fees sent buyers scrambling to dealers’.
The figure represented a 30 percent rise from October and a 6 percent increase year-on-year, according to the Vietnam Automobile Manufacturers Association.
The government cut registration fees for locally produced cars by 50 percent for six months starting December 1.
November was the third month in a row in which auto sales rose after five months of declines between April and August as the fourth wave of Covid-19 hit sales.
In the first 11 months of this year, 257,390 units were sold, a 3 percent rise.
Thaco, an assembler of Mazda and Peugeot led with 88,967 units, up 5 percent, followed by Toyota with 55,109 units, down 7 percent, and Mitsubishi, Ford, and Honda made up the top five.
Last year sales fell by 8 percent to 296,634 units as the Covid-19 pandemic hit the economy, people’s incomes, and discretionary spending.
Questions & Answers
Q.What was the total volume of auto sales in the first 11 months of this year?
What was the total volume of auto sales in the first 11 months of this year?
In the first 11 months of this year, 257,390 units were sold. This figure represents a 3 percent rise compared to the same period in the previous year, indicating a modest growth despite earlier challenges.
Q.Which car manufacturer had the highest sales volume in the first 11 months?
Which car manufacturer had the highest sales volume in the first 11 months?
Thaco, an assembler of Mazda and Peugeot vehicles, led the market with 88,967 units sold. This was a 5 percent increase, placing them ahead of Toyota, Mitsubishi, Ford, and Honda in the top five.
Q.What impact did the previous year's pandemic have on auto sales?
What impact did the previous year's pandemic have on auto sales?
Last year, auto sales fell by 8 percent to a total of 296,634 units. The Covid-19 pandemic significantly affected the economy, people's incomes, and discretionary spending, leading to this decline.
Q.When does the 50 percent registration fee discount for locally produced cars begin?
When does the 50 percent registration fee discount for locally produced cars begin?
The government's 50 percent reduction in registration fees for locally produced cars began on December 1. This discount is scheduled to be in effect for a period of six months, aiming to further boost sales.