Auto sales August surge bodes well for yearly target

Auto sales August surge bodes well for yearly target

Automobile sales of the Viet Nam Automobile Manufacturers Association in August saw a growth of 12 per cent year-on-year, showing good signs for the market from now to the end of the year, according to VAMA.

In its report for August, VAMA said that sales in August of its members totalled around 7,900 units, of which nearly 3,100 units were cars and more than 4,800 others were trucks.

"This is the fifth consecutive month that industry volume has been higher than the same period last year," the report said.

Although the number was higher than the corresponding time last year, sales in August fell in July by 22 per cent in cars and 11 per cent in trucks.

Traders explained that in the last month of the lunar calendar, people have a habit of buying very little.

During the month, Toyota, Thaco Kia, Ford and Honda were best-sellers.

According to VAMA, after lunar July, the market will then pick up until the year-end.

Because of this reason, several companies have carried out many promotions and started new series in order to increase their sales.

A report from Thoi Bao Kinh Te Viet Nam (Viet Nam Economic Times) said that Thaco Kia had cut VND40 million (US$2,000) for each Kia Forte and support for 3 per cent of registration fees for Kia Picanto, Kia Carens and Kia Sorento.

GM will present 1,000 litres of petrol and cut prices by up to VND52 million ($2,600).

Meanwhile, Ford Viet Nam has cut the price of all cars by VND10-15 million ($500-$750) each.

Companies said they would continue to apply new promotions and strengthen their after-sale services to attract more customers in the coming months.

"With the current trend of recovery, but with a cautious view of the August results and delay in the registration of tax reductions in HCM City, the industry could reach 109,000 units compared with the original forecast of 100,000 units," VAMA's report said.

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