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Jan-Sept auto sales dip 8% y-o-y
Quoc Hung
Wednesday,  Oct 11, 2017,21:30 (GMT+7)

Jan-Sept auto sales dip 8% y-o-y

Quoc Hung

A model stands next to a car on display at a local auto show. Auto sales in Vietnam fell 8% year-on-year to 198,250 units in the first nine months of 2017 - PHOTO: QUOC HUNG

HCMC - Auto sales in Vietnam fell 8% year-on-year to 198,250 units in the first nine months of 2017 as an upcoming reduction of import tariffs for motor vehicles dampened consumption.

Data of the Vietnam Automobile Manufacturers Association (VAMA) shows that there were 21,220 cars sold in September, down 4% against the previous month and 20% over the same period last year.

Particularly, 11,637 passenger cars, 8,700 commercial vehicles and 879 special-purpose autos found buyers last month.

According to VAMA, output of domestically assembled cars last month reached over 14,700 units, down 5% month-on-month, while there were nearly 6,500 completely-built-up (CBU) autos imported, down 2%.

All in all, nearly 200,000 cars were sold in January-September, down 8% against the same period last year. Sales of passenger, commercial and special-use vehicles edged down 7%, 7% and 18% year-on-year to about 114,800, 73,300 and 10,150 units respectively.

As of late September, 141,700 domestically assembled cars had been consumed, down 28% year-on-year, and 56,530 imported cars had found buyers, up 8% year-on-year. Sales of locally assembled cars would dip further in the coming time as some automakers in the country have stopped assembling certain auto models and imported CBU cars from Thailand and Indonesia for local sale instead.

The decline of auto sales was foreseen as consumers tend to wait until 2018 when tariffs on CBU car imports from ASEAN are down to 0% from the current 30%.

However, market watchers said the number of 200,000 cars sold in the first nine months of this year was an encouraging result. A couple of automakers and dealers have continuously launched deep price discounts to meet their sales targets.

From now until October 31, buyers of Audi Vietnam’s Audi A4, A6 and Q7 2.0 cars can enjoy a 5-6% discount.

Meanwhile, Truong Hai Auto Corporation (Thaco) has lowered prices of Mazda 2, Mazda 3, Mazda 6 and Mazda CX-5 vehicles since early October. Mazda 6 2017 2.0L, Mazda 6 2017 2.0L Premium and Mazda 6 2017 2.5L Premium are now offered at VND850 million, VND899 million and VND999 million respectively.

Before Toyota Vietnam launched the new Camry 2017 model on October 10, dealers have cut the prices of the previous Camry models by VND100-120 million, Vios by VND30 million and Innova by VND55 million.

Hyundai has also slashed Tucson car prices by VND30-50 million to VND770-785 million per unit.

However, market watchers said VAMA’s forecast of a 10% increase in auto sales this year is seen unattainable.

There were nearly 304,500 cars sold last year, up 24% against 2015.

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