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Flagging fleet buys drive down auto sales
Automakers sold barely more than half as many new cars and trucks in February as they did a year ago, as potential buyers worried about more basic concerns – such as whether they would have jobs or be able to pay their mortgage.
According to the Vietnam Automobile Manufacturers Association (VAMA), an industry group representing the country’s 17 leading automakers, only 6,671 vehicles were sold last month, down 25 percent year-on-year.
Meanwhile, total sales in January-February stood at 10,523 units, a 50 percent drop compared to the corresponding period last year, the association said on March 10.
“The decrease this month was mainly due to the commercial vehicles segment, which saw a 42 percent decrease against February 2008,” VAMA Secretary Pham Anh Tuan told the English-language dailyVietnam News.
Tuan also attributed January-February’s nosedive in sales to the poor performance of the commercial segment, which saw a 66 percent drop compared to the first two month of 2008.
Meanwhile, auto dealers said that February’s deceleration in sales was not felt everywhere. A number of auto buyers rushed to buy vehicle with engines over 2.0 litres, mostly SUVs and MPVs, since the special consumption tax for such cars would be increased to 50 percent from the current 30 percent in April.
Sport utility vehicles and multipurpose vehicles experienced a 23 percent growth rate in February, with Toyota Innova MPV running ahead with 1,128 units, up 72 percent over January.
Meanwhile, Ford Everest and GM-Daewoo Captiva SUVs also enjoyed a boost in sales at 282 and 150 units, respectively, a rise for both in comparison to January.
In overall rankings, Toyota kept its top position with 1,646 units sold, up 12 percent. Vinamotor followed with 1,173 units, down 54 percent, Truong Hai with 1,080 units, down 15 percent and GM Daewoo with 564 units, down 24 percent.
Vietnamplus
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