An SUV seen at a dealership in Hanoi. Photo by VnExpress/Hoang Long.
Vietnam’s auto sales in the first seven months fell 28 percent year-on-year to 131,200 units as the coronavirus pandemic slashed demand.
Passenger cars accounted for 72 percent of sales at nearly 94,300 units, followed by commercial vehicles at 26 percent, and the rest by special-purpose vehicles, according to the Vietnam Automobile Manufacturers Association (VAMA).
Sales in July alone was 24,065 units, the highest so far this year, double that of April when sales hit bottom due to auto factories and dealers being shut down for weeks following the nationwide social distancing measures imposed to curb the spread of Covid-19.
For the first seven months, local brand Truong Hai Auto (Thaco) retained the top spot, but saw sales fall 21 percent year-on-year to 42,600 units. It was followed by Toyota and Honda, both recording double-digit decreases.
On June 28, the government had cut first-time registration fees by half for locally made cars, trailers, semi-trailers towed by cars and other vehicle types to boost 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.