HCMC – The Vietnam Automobile Manufacturers Association (VAMA) reported a significant surge in auto sales in November, with 44,200 units sold, a 58% year-on-year increase and a 14% rise compared to October.
The sales included 34,835 passenger cars, 9,017 commercial vehicles, and 348 specialized automobiles, reflecting month-on-month growth of 15%, 9%, and 54%, respectively.
VAMA attributed this sharp rise to the Government’s policy of reducing registration fees by 50% for domestically manufactured and assembled vehicles, in effect from September to November. The policy effectively lowered on-road costs, which typically account for 5–12% of a vehicle’s value, encouraging many consumers to finalize purchases.
However, with the incentive ending, on-road prices have risen, prompting some potential buyers to reconsider their decisions, even as the year-end period traditionally marks peak demand for automobiles.
In response, car manufacturers have rolled out aggressive promotional campaigns to maintain momentum in the competitive market.
Honda is offering discounts of up to VND250 million on the Accord model, while Toyota is covering 100% of registration fees for its Veloz Cross and Avanza Premio models. Other brands like Ford and Mercedes-Benz are providing price reductions and registration fee support for selected models.
