Auto sales strongly reduce in July, VAMA

SGGP
Vietnam Automobile Manufacturers' Association (VAMA) yesterday reported that auto sales in July reduced 15 percent over the previous month and 27 percent over the same period last year.

Illustrative photo

Illustrative photo

Specifically, the market’s sales reached only 20,662 automobiles including 11,195 passenger cars, 8,489 commercial vehicles and 978 specialized vehicles, dropping 21 percent, 7 percent and 7 percent over June respectively.
In the first seven months this year, it reduced 6 percent over the same period last year.
According to VAMA, auto companies have launched many promotional and discount strategies to stimulate demand but sales has still slowed as consumers have seemed to wait for further price drop.

By BICH QUYEN – Translated by Hai Mien

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