Automobile sales plunge 32% in four-months

Auto sales in January to April by 11 members of the Vietnam Automobile Manufacturers Association plummeted 32% year-on-year to slightly more than 6,700 units, Vama figures show.
Most of the 11 Vama automakers reported strong declines in sales but Toyota, which continued to see sales increasing and maintain its strong market lead. Some members’ sale decreased as much as 70%.
In the first four-months, Vinastar Motors sales plunged more than 70% to 348 vehicles, while Mercedes Benz Vietnam saw sales falling over 60% to 155 units, and Visuco sales dropped by around 52% to 522 units.
Vidamco sold only 464 vehicles, compared to almost 1,600 in the same period last year, down by more than 70%.
But while most Vama members reported negative figures, Toyota maintains its position as the all-out winner, keeping its dominant market share of more than 47%, or 3,155 units.
Similarly, Hino, Vindaco and Mekong have the light increase in auto sales compared with the same period last year.
High taxes introduced in January are blamed for the fall in automobile sales.

 

Category: Economy