Auto sales August surge bodes well for yearly target

Automobile sales in August saw a growth of 12 percent year-on-year, showing good signs for the market from now to the end of the year, according to the Vietnam Automobile Manufacturers Association (VAMA).

In its report for August, VAMA said that sales in August of its members totalled around 7,900 units, of which nearly 3,100 units were cars and more than 4,800 others were trucks.

"This is the fifth consecutive month that industry volume has been higher than the same period last year," the report said.

Although the number was higher than the corresponding time last year, sales in August fell in July by 22 percent in cars and 11 percent in trucks.

During the month, Toyota , Thaco Kia, Ford and Honda were best-sellers.

According to VAMA, after lunar July which is traditionally considered a bad month for any purchase, the market will then pick up until the year-end.

Because of this reason, several companies have carried out many promotions and started new series in order to increase their sales.

"With the current trend of recovery, but with a cautious view of the August results and delay in the registration of tax reductions in HCM City , the industry could reach 109,000 units compared with the original forecast of 100,000 units," VAMA's report said.

VNA

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