Recent uptick in car sales fails to reverse year-to-date decline

Vietnam saw 35,900 cars sold last month, up 9% from October, according to compiled data from Vietnam Automobile Manufacturers Association (VAMA) and Hyundai Thanh Cong.

Industry insiders say large discounts offered by dealers stirred up demand after a year of dampened activity.

People also tend to buy cars in the last months of the year to celebrate the Lunar New Year Tet Festival, which falls in early February.

Economic challenges, however, still plague the car market. March remained the month with the biggest sales recorded this year at 36,700 units.

Since the beginning of the year, VAMA members and Hyundai Thanh Cong have sold 319,800 units, down 28% year-on-year.

VinFast’s sales figures have been excluded from this report as the company ceased releasing its monthly data in August.