Car sales in Vietnam have increased in the run-up to the Lunar New Year.
Pham Vu, representative of a Honda agent in Hanoi, said that his branch had sold more than 100 cars a month on average in the fourth quarter of this year, compared to 60 previously.
Despite stopping sales prices, many companies have still seen high car sales because of higher demand, Minh said.
Car sales in Vietnam surge ahead of Tet
In the first 11 months of this year, Truong Hai Auto sold 71,000 cars, up 90% against the same period of 2014, putting the company top of the sales nationwide.
According to Vietnam Automobile Manufacturers Association, 215,517 cars were sold in Vietnam between January and November, up 57% on-year. The figure is expected to reach a record 220,000 cars by late December.
People traditionally buy expensive purchases before the Lunar New Year Pham Vu said, and he also added that some were taking loans to buy cars so they could operate as Uber or Grab Taxi services, he added.
Tran Tuan Hung, general director of Lien A International Joint Stock Company which is the official distributor of Audi in Vietnam, said that Audi sales have also increased by 8-9% compared to this time of last year.
Huynh The Du, managing director of Fulbright Economics Teaching Programme said the increased sales were due to a brighter financial picture for many Vietnamese families.
