Auto sales down 25 pct

By Dat Nguyen   September 10, 2020 | 08:06 pm PT
Auto sales down 25 pct
Cars and motorbikes stranded during rush hour in Hanoi. Photo by Shutterstock/Vietnam Stock Images.
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.

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