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Feb auto sales down 24% on low demand
2011-0318
The Vietnam Automobile Manufacturers Association (VAMA) on Wednesday reported a 56% year-on-year increase in auto sales last month, but compared to the previous month, this figure was down.
The 17 members of VAMA sold nearly 7,890 units in February, down 24% from January this year.
In January and February last year the auto industry registered its worst monthly performance with about 7,400 units and 5,070 units sold respectively after the Government removed the tax incentives for it.
The auto market is in decline, automakers said.
All automakers reported a month-on-month fall in sales. Last month the market leader Toyota Vietnam saw sales down 27% at more than 2,220 units and VinaStar (Mitsubishi) down 88% at 57 units.
The 17 members of VAMA sold nearly 7,890 units in February, down 24% from January this year.
In January and February last year the auto industry registered its worst monthly performance with about 7,400 units and 5,070 units sold respectively after the Government removed the tax incentives for it.
The auto market is in decline, automakers said.
All automakers reported a month-on-month fall in sales. Last month the market leader Toyota Vietnam saw sales down 27% at more than 2,220 units and VinaStar (Mitsubishi) down 88% at 57 units.
Source: SGT
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