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Tuesday, June 18, 2024

Car import, production down amid falling sales

The Saigon Times

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HCMC – The strong decline in sales in Vietnam has led to car import, manufacturing and assembly falling.

Data from the General Statistics Office (GSO) showed 21,900 new cars, including domestically-assembled and imported ones, were sold in February, down by 23.3% against the previous month and 38.8% year-on-year.

The number of locally-assembled cars sold last month totaled 15,900, contracting by 26.4% against January and 25.3% versus the year-ago period.

Only 6,955 completely built-up (CBU) autos valued at US$145 million were imported, a 9.1% drop in volume and a 17.2% decrease in value compared to January.

Market watchers forecast that the domestic demand for cars would continue to be weak in the coming months.

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