Tuesday , November 29 2022

November auto sales rise to year high as government halves registration fee


November saw the highest monthly auto sales this year of 38,656 units as a discount in registration fees sent buyers scrambling to dealers’.

The figure represented a 30 percent rise from October and 6 percent increase year-on-year, according to the Vietnam Automobile Manufacturers Association.

The government cut registration fees for locally produced cars by 50 percent for six months starting December 1.

November was the third month in a row in which auto sales rose after five months of declines between April and August as the fourth wave of Covid-19 hit sales.

In the first 11 months of this year 257,390 units were sold, a 3 percent rise.

Thaco, an assembler of Mazda and Peugeot led with 88,967 units, up 5 percent, followed by Toyota with 55,109 units, down 7 percent, and Mitsubishi, Ford and Honda made up the top five.

Last year sales fell by 8 percent to 296,634 units as the Covid-19 pandemic hit the economy, people’s incomes and discretionary spending.

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