Vietnam ’s vehicle sales suffered a 1 per cent drop last year and a dramatic 12 per cent fall in December, the Vietnam Automobile Manufacturing Association (VAMA) said on Jan. 10, as the auto sector heads into a difficult year.
Vietnam Automobile Manufacturers' Association (VAMA) has lately reported that its members' automobile sales in 2011 dropped 1 percent from 2010 to reach nearly 111,000 units.
The auto sales volume of the Vietnam Automobile Manufacturers Association (VAMA)’s members would decline by 20% this year, given the new policy and other economic difficulties, said the top automaker on the market.
Motorbike manufacturers rush to expand the production because they could imagine before that the demand would be so weak. The prices have been decreasing dramatically, but consumers still keep indifferent.
The country spent more than $1 billion on importing 55,000 new cars in 2011, despite economic difficulties, estimated the General Statistics Office (GSO).
The Hanoi authorities have officially hiked the license plate registration fees for cars and motorbikes by 10 times in a bid to reduce traffic congestion in the capital.
Although it is mid December and a festive shopping season, motorcycle businesses are seeing a slump in sales even after offering discounts and promotions.