Auto sale shoots up in March

By Pham Trung   April 17, 2024 | 03:28 am PT
Vietnam’s auto sales surged 135% from February to 27,289 units in March as demand recovered.

This is the highest monthly figure recorded this year, according to the Vietnam Automobile Manufacturers Association (VAMA).

Some Japanese brands such as Toyota and Honda offered big discounts last month.

Hyundai, which is not a member of VAMA, saw sales rising 123% to 4,542 units.

But looking at the first quarter as a whole, sales were down by double-digit compared to the same period last year.

VAMA posted a decline of 18% to 58,165 units while Hyundai saw a 32% drop to 10,114 units.

A manager of a Japanese dealership in Ho Chi Minh City said that sales declined in the first quarter because a there is no longer a 50% waiver in registration fee as compared to last year.

Demand is expected to rise in the second quarter, he added.

Toyota posted the biggest decline in first quarter at 46% while Kia, distributed by local firm Thaco, saw a 27% drop.

Honda, however, managed to bring sales up by 40%.

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