Automobile sales bounce back in September

12-Oct-2018 Intellasia | The Saigon Times | 6:00 AM Print This Post

The local automobile market last month saw a rebound in the sales of both locally assembled cars and completely-built-up (CBU) vehicles, after sagging consumption for several months due to the shortage of imported CBU units, the Vietnam Automobile Manufacturers Association said.

More than 25,300 automobiles of all kinds were sold last month, up 24 percent month-on-month and up 19 percent year-on-year. Specifically, the sales of domestically assembled automobiles reached 17,325 units, up 16 percent month-on-month, while those of CBU cars totalled 8,026 units, up 42 percent versus August’s figure.

Among the automobiles sold, passenger cars accounted for more than 17,000 units and commercial cars exceeded 7,500 units, along with some 500 special-purpose vehicles, up 24 percent, 21 percent and 36 percent month-on-month, respectively.

The sharp increase in automobile sales last month pushed up the auto consumption so far this year to some 180,000 units, down a mere 1 percent against the year-ago period. Of these, sales of locally assembled cars picked up by 11 percent, while CBU car sales tumbled by 34 percent as the regulations of Decree 116 had hindered local auto traders from importing CBU cars in the first half of the year.

However, local automobile traders and dealers forecast that the auto market would continue to rebound until the end of the year as car importers had overcome regulatory barriers preventing them from importing CBU cars. Accordingly, the local market will welcome a wide range of new car models, offering various options to consumers.

For instance, CBU cars now enjoy zero import tariffs from Thailand and Indonesia. A host of newly designed automobiles eligible for the preferential tariff have been shipped to Vietnam and undergone customs clearance procedures.

Toyota Vietnam has introduced three brand new automobile models imported from Indonesia, the Wigo, the Avanza and the Rush. Meanwhile, Honda Vietnam, the Japan-based rival of Toyota, has recently added the Honda HR-V to its imported CBU automobile list, which is expected to compete with the Ford EcoSport in the small-sized sport utility vehicle segment for urban areas.

Moreover, Mitsubishi, another Japanese brand, has rolled out the MPV Xpander model, imported from Indonesia, to compete with rivals in the seven-seat family automobile segment.

Numerous new automobile models are expected to enter the country from now until the end of the year, particularly when the Vietnam Motor Show 2018 kicks off on October 24 at the Saigon Exhibition and Convention centre in HCM City’s District 7.

The event will gather 15 automobile brands that are members of the Vietnam Automobile Manufacturers Association and the Vietnam Car Importers Association, such as Audi, Chevrolet, Ford, Jaguar, Honda and Land Rover.

https://english.thesaigontimes.vn/63313/automobile-sales-bounce-back-in-september.html

 


Category: Economy, Vietnam

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