Auto sales continue to plummet in Feb
Auto sales continue to plummet in Feb
The local automobile market continued its downward spiral as auto sales in February plunged by 22% month-on-month, according to a new report released by the Vietnam Automobile Manufacturers Association (VAMA).
An auto show taking place in HCMC. The local automobile market continued its downward spiral as auto sales in February plunged by 22% month-on-month – PHOTO: LE HOANG
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In February, over 13,580 vehicles of all types were sold by VAMA members, dipping by 48% year-on-year.
Some 6,940 passenger cars, over 3,760 commercial vehicles and 179 special-purpose automobiles found buyers last month, dropping by 53%, 34% and 39%, respectively, against the previous month.
The number of locally-assembled vehicles slumped by 41% month-on-month to 8,610 units, while imported completely built-up auto sales plummeted 58% to 4,975 vehicles.
In January, VAMA members sold 26,430 units, down 45% against the figure seen in December 2020, the last month for the 50% cut in the car registration fee for locally assembled or manufactured cars.
The fall was attributed to the suspension of the 50% reduction in the registration fee for locally made cars from January 1. Besides, the resurgence of Covid-19 outbreaks contributed to the decline in auto sales.
In the first two months still, the number of autos sold in the local market amounted to 40,000, up 21% year-on-year, with over 30,000 passenger cars finding buyers, up 19% year-on-year. Some 9,500 commercial vehicles were delivered to customers, up 28% year-on-year, while the number of special-use vehicles sold decreased by 15% to 470, according to the VAMA statistics.
Facing the same face as VAMA members, non-VAMA member TC Motors sold over 3,020 automobiles in February, down 50% month-on-month.
