A long Lunar New Year holidays, the ending of registration fee cut and impacts from COVID-19 pandemic are major reasons behind a strong fall of automobile sales in February, according to insiders.
Hanoi (VNA) – A long Lunar New Year holidays,the ending of registration fee cut and impacts from COVID-19 pandemic are majorreasons behind a strong fall of automobile sales in February, according to insiders.
A report by the Vietnam Automobile Manufacturers' Association(VAMA) said its members sold 13,585vehicles in the month, a drop of 22 percent over the previous month.
The figure comprised 6,939 passenger cars, 3,767 commercial and 179special-use vehicles.
The sales of domestically-assembled vehicles fell 41 percentmonth on month to 8,610 vehicles, while that of completely built-up (CBU) vehiclesdropped 58 percent over January to 4,975 units.
However, VAMA member automakers’ sales in the first twomonths of this year still rose 21 percent year on year to 40,017 vehicles.
Experts held that the figure did not reflect the situation of the Vietnamese automobile market, as it did not include sales of many brandssuch as Audi, Jaguar Land Rover, Mercedes-Benz, Subaru, Volkswagen and Volvo, whosesales were not revealed.
In February, TC Motor alone sold 3,021 vehicles, whileVinfast also sold 1,718 vehicles. In the first two months, the two brands sold 18,324 vehicles in combination.
TC Motor led all brands in February sales with 3,021 vehicles,followed by Kia with 2,488 vehicles, Toyota with 2.411 vehicles, VinFast with 1,718vehicles, Mazda with 1,440 vehicles, Honda with 1,281 vehicles, and Ford with 1,094vehicles.
VinFast Fadil and Kia Seltos were bestsellers in the monthwith sales of over 1,000 vehicles each./.
The domestic automobile industry was forecast to thrive, given the Government’s supports in tax policies for imported automobile components coupled with the increasing income of citizens, according to a report by the Viet Dragon Securities Corporation (VDSC).
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Illustrative image (Source: EPA-EFE) 
