Auto sales surge by 45%

This increase follows the introduction of a 50% cut in registration fees for domestically produced and assembled vehicles, which began on September 1 and will last for three months.

According to VAMA’s report on Oc.10, sales in the passenger vehicle segment reached 28,973 units in September, a 51% rise over August. Commercial vehicle sales also showed significant growth, with 7,367 units sold, or a 25% monthly increase.

Special-purpose vehicles, meanwhile, saw a 48% rise, with 245 units delivered to buyers. These figures reflect strong demand for various vehicle types suitable for domestic travel and transport needs.

Domestically-assembled vehicle sales totalled 19,500 units, up 62% month-on-month. Imported automobiles also saw growth, with sales of 17,085 units, up 30%. The disparity in growth rates underscores the effectiveness of the registration fee reduction policy, which has heightened consumer interest in locally assembled vehicles.

Among VAMA members, Toyota led September sales with 6,986 vehicles sold, followed by Mitsubishi, Kia, Ford, Honda, and Mazda.

In the first nine months, VAMA members sold a total of 225,583 vehicles, an annual increase of 7.5%. Sales of domestically assembled and imported vehicles reached 113,641 and 111,942 units, down 7.5% and up 28.5% year-on-year, respectively.

Industry experts forecast continued market growth over the next two months as the support policy remains active. However, growth rates are unlikely to match September's figures, as pent-up consumer demand spurred by the incentive has already been realised. Additionally, as the policy expires, the market will face challenges amid economic fluctuations and evolving consumer trends.