Auto market posts slow growth

SGGP
Vietnam Automobile Manufacturers’ Association (VAMA) reported that auto market sales in November reached 24,752 products, up 13 percent over the previous month after many consecutive months of reduction.

Auto market posts slow growth

The sales hit 244,670 automobiles during the first 11 months this year, down 10 percent over the same period last year. Of these, passenger cars dropped 12 percent, commercial automobiles slid 5 percent and specialized vehicles fell 15 percent.
During the 11 months, the sales of domestically assembled products reduced 19 percent while import items increased 9 percent.
Automakers’ price cut by tens to hundreds of million dong stimulated demand in November, experts said.
VAMA forecast that it is infeasible for auto consumption to post a year on year increase of 10 percent in 2017 because the year 2017 will end in only a week.

By VAN DIEU – Translated by Hai Mien

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