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Car sales tumble in first quarter
Car sales of the Viet Nam Automobile Manufacturers Association (VAMA) reached 21,289 units in the first quarter of the year, down 406 units over the same period last year, according to the association.
The increase in car sales in March contributed to bolstering the first-quarter figures. The country's March domestic car sales reached 9,298 units compared with 5,030 units in February, and 6,961 units in January.
March's increase depends mainly on the growth of Toyota, Truong Hai and Visuco (Suzuki) sales, with Toyota selling an additional 3,108 vehicles in March, a 1,300 month-on-month and 19 per cent year-on-year rise.
Truong Hai Auto posted total sales of 2,375 units in March, higher than February's 1,626 and a 42 per cent surge against March 2009.
In March, the market saw decreased sales for Ford, Honda, Mercedes, Mitsubishi and GM Daewoo (Vidamco) compared with the same period last year. Honda's sales fell 44 per cent, Mercedes saw a drop of 70 per cent, and Ford 30 per cent.
Sales of passenger cars saw a 100-per-cent increase in March compared with the same period last year while SUV/MPV and commercial vehicles showed a decrease of 48 per cent and 19 per cent, respectively, over the same period.
Many difficulties
Despite good results in March, the market will face difficulties in the coming period.
State policies aimed at reducing the trade deficit will continue to take effect in the coming months, creating difficulties for car business operations. Technological problems have plagued some foreign auto manufacturers and price cuts from producers and importers in the first quarter have also ended, which will have an impact on consumer spending. Authorities are also considering raising registration taxes to 15 per cent from a current 12 per cent.
Foreign car firms target VN
Despite the gloom, foreign car-makers continue to enter the Vietnamese market.
Nissan Viet Nam (NVL) on Wednesday launched its first locally-assembled car in HCM City, the seven-seater Nissan Grand Livina MPV.
The car will be displayed at a second showroom to open in Ha Noi next week.
"The opening of two flagship dealers in Viet Nam with a locally-assembled product represents the company's continuing priority focus on business expansion into emerging markets with Viet Nam as one of the key global automotive markets," said Toshiyuki Shiga, chief operating officer of Nissan Motor Co., Ltd (NML).
The Nissan Grand Livina will be assembled by the Viet Nam Motors Corporation (VMC), an existing car manufacturer which adheres to global NML standards.
Hyundai Thanh Cong, the new distributor for the Republic of Korea's Hyundai Group announced that it would launch its new tourist car model, the Hyundai Tucson, in the middle of the year.
Toyota Motor Viet Nam (TMV) yesterday introduce its new Red Personality Vios 2010 at HCM City's White Palace Convention Centre.
With a new image and progressive design, cool beauty and a sporty look, the new Vios will be on display and available at all TMV's sales networks nationwide by the end of this month.
Chinese automobile manufacturer BYD Auto is also looking for a local distributor for their products and expects to begin operations in Viet Nam this month.
vietnamnews
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