Hung Le
A model poses for photographers next to a Honda sedan at a recent auto show in HCMC in this file picture - Photo: Hung Le
Of the total number of vehicles sold, the number of sedans reached 4,509, down by 46% against that in January, according to a VAMA report.
The Lunar New Year holiday and lower transactions in February are to blame for the slowing consumption. Additionally, certain people believe that it is a taboo to buy something highly valuable such as cars or houses on the very first month of the year.
Overall in the first two months this year, the total number of autos sold reached 18,380, a rise of 39% year on year. Sales of sedans and trucks reached 12,835 and 5,545 units, up 44% and 29% respectively.
Given the figures, experts expect the automobile market to get more favorable partly because the HCMC government has lowered the auto registration fee for less than 10-seat vehicles to 10% compared to the previous 15%. This is considered a significant price decrease for buyers.
On the other hand, the economy has shown signs of more sustainability and banks are now cutting the lending rate, which will have a positive impact on the market.
VAMA also predicts that the consumption in 2014 may climb to 120,000 cars, or 9% higher than in 2013.
The Government’s incentive to reduce registration fee has partially helped boost auto sales last year to 110,519 units, a 19% increase over the previous year.
Đăng ký: VietNam News
