Vietnam sees low number of car sales in March

Over 19,000 cars were sold in March in Vietnam, a decrease of 41% compared to the same period last year, according to the Vietnam Automobile Manufacturers' Association.

Over 19,000 cars were sold in March in Vietnam, a decrease of 41% compared to the same period last year, according to the Vietnam Automobile Manufacturers' Association (VAMA).

 

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The VAMA announced the sales of their members in March and data about car import of non-members on April 10.

In March, 19,154 cars were sold, an increase of 8% in February but downed by 41% compared to the same period last year. 13,071 of which are passengers cars, 5,711 are commercial and 327 are special-use vehicles. The sale of passenger, commercial, and special-use vehicles increased by 5%, 18% and 12% respectively.

The locally-assembled output reached 11,878 vehicles, increased by 2% on the previous month. Vietnam also imported 7,276 vehicles, increased by 22% on the previous month.

At the end of March, the industry's revenue decreased by 33% compared to the same period last year. The revenues from passenger cars dropped by 35%, revenues from commercial and special-use vehicles dropped by 26% and 32% respectively.

In the report to the government and related agencies, VAMA has pointed out the industry's difficulties. Many firms have closed and the number of customers visiting the agents as well as sold cars dropped dramatically since early 2020.

Even the number of vehicles going to garages for maintenance also dropped by 30-40% and will drop to 60-70% in the future if the outbreak worsens.

VAMA asked the government to reduce 50% of the VAT, 50% of the registration fees for customers and relax the deadlines for VAT and excise tax from March to September. They also asked to defer the deadline for corporate income tax to March 31, 2021.