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Auto sales tumble across the board
2011-1226
Auto sales by members of the Vietnam Automobile Manufacturers Association (VAMA) took a headlong nosedive in November, contracting as much as 22% year on year to 8,773 units.
VAMA, whose members’ sales accounted for the lion’s share on the market, said November sales decreased by 480 units compared to October. While a plunge in sales of multipurpose vehicles and sport utility vehicles in October was compensated by a sharp rise in sedan sales, November saw sales dwindle across the board.
VAMA members said they sold 1,700 MPVs and SUVs, some 3,190 sedans, and 3,620 commercial vehicles, decreasing by 39%, 15% and 22% year on year respectively.
VAMA attributed the fall to economic difficulties, high lending interest rates, and a policy by the State to tighten the purse string at all State agencies. Furthermore, the short supply of auto components from the flood-hit Thailand is also blamed for the fall in sedan sales.
Toyota Vietnam saw its sales plunge by 34% against the year-earlier period to 2,120 vehicles in November, while Honda Vietnam reported a fall of 17% to a mere 297 units.
* On the occasion of Christmas, customers buying Mercedes-Benz C-Class, E-Class and GLK models at authorized dealers nationwide between December 5 and 31, 2011 will get the special car loan offer from the automaker via its strategic partner Techcombank with interest rate of 9.9% fixed for the first year.
The purpose of this year-end campaign is to give car buyers the chance to acquire their favorite Mercedes-Benz cars to enjoy Christmas and the upcoming Tet, according to the company.
Accordingly, the car loan amount can reach 70% of the car value in four years. Total processing time will take maximum three days, subjective to customers providing all documents as solicited by the bank.
The company has obtained record sales of passenger vehicles from January to November 2011 with totally 1,929 units, a year on-year increase of 18%.
Meanwhile, Vina-Mazda Co., Ltd, the local distributor of Mazda cars, also offers incentives to its customers who buy Mazda 2 CKD. It will discount VND25 million per unit to the prices at VND569 million for Mazda 2 MT and VND595 million for Mazda 2 AT.
VAMA, whose members’ sales accounted for the lion’s share on the market, said November sales decreased by 480 units compared to October. While a plunge in sales of multipurpose vehicles and sport utility vehicles in October was compensated by a sharp rise in sedan sales, November saw sales dwindle across the board.
VAMA members said they sold 1,700 MPVs and SUVs, some 3,190 sedans, and 3,620 commercial vehicles, decreasing by 39%, 15% and 22% year on year respectively.
VAMA attributed the fall to economic difficulties, high lending interest rates, and a policy by the State to tighten the purse string at all State agencies. Furthermore, the short supply of auto components from the flood-hit Thailand is also blamed for the fall in sedan sales.
Toyota Vietnam saw its sales plunge by 34% against the year-earlier period to 2,120 vehicles in November, while Honda Vietnam reported a fall of 17% to a mere 297 units.
* On the occasion of Christmas, customers buying Mercedes-Benz C-Class, E-Class and GLK models at authorized dealers nationwide between December 5 and 31, 2011 will get the special car loan offer from the automaker via its strategic partner Techcombank with interest rate of 9.9% fixed for the first year.
The purpose of this year-end campaign is to give car buyers the chance to acquire their favorite Mercedes-Benz cars to enjoy Christmas and the upcoming Tet, according to the company.
Accordingly, the car loan amount can reach 70% of the car value in four years. Total processing time will take maximum three days, subjective to customers providing all documents as solicited by the bank.
The company has obtained record sales of passenger vehicles from January to November 2011 with totally 1,929 units, a year on-year increase of 18%.
Meanwhile, Vina-Mazda Co., Ltd, the local distributor of Mazda cars, also offers incentives to its customers who buy Mazda 2 CKD. It will discount VND25 million per unit to the prices at VND569 million for Mazda 2 MT and VND595 million for Mazda 2 AT.
Source: SGT
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