Logo of Phnom Penh Post newspaper Phnom Penh Post - Vietnam auto sales down, despite discounts

Vietnam auto sales down, despite discounts

Content image - Phnom Penh Post
An assembly line at Hyundai Thành Công Automobile Factory in northern Ninh Bình Province. VNA/VNS Photo

Vietnam auto sales down, despite discounts

Despite huge reductions in the price of motor vehicles, car dealerships say sales have been unexpectedly slow in recent weeks.

Cut price deals, in some cases reductions of tens of millions of dong during recent holidays, failed to attract the expected amount of buyers.

Nissan Vietnam slashed prices by up to 70 million dong ($3,000) for buyers of Sunny, Navara, X-Trail and SUV Terra vehicles. They also offered deals for registration fees and offered free gifts with certain cars.

Isuzu also offered similar sale prices along with Toyota Motor Vietnam (TMV) and BMW, but again, sales slowed.

According to the latest report from the Vietnam Automobile Manufacturers’ Association (VAMA), the total sales in April were 21,021, down 35 per year compared with the previous month.

Still a drop

Taking into account the sales of 6,176 vehicles of Hyundai Thanh Cong and VAMA member units, the whole Vietnamese automobile market last month reached 27,197 vehicles which was still a drop of more than 29 per cent month-on-month.

A VAMA representative, who wanted to remain anonymous, told Vietnamplus that one reason for the downtrend was because of the government decision to increase registration fees for pickup trucks from two per cent to 7.2 per cent applied from early last month, reducing purchasing power.

“However, the most important factor is that April is not the season of car purchases and the change of consumers’ demand due to increasing traffic congestion in urban areas and the hike of fuel that all can make people gradually convert to public vehicles, helping them save money,” he said.

Insiders said that while the discount programmes were launched on various car models, the dealers increased the prices of a number of “hot cars”, requiring customers to buy more accessories for cars from tens of millions of dong to hundreds of millions of dong that caused a loss a number of customers.

Meanwhile, with the information that some new attractive models such as Hyundai Elantra, 2019 Hyundai Tucson, Toyota Camry 2019, Honda Brio and Subaru Forester, which have many noticeable upgrades, will be imported to Vietnam this month with prices much lower than the previous versions, many customers delayed buying cars in April and to wait for the new ones. VIET NAM NEWS/ASIA NEWS NETWORK


  • PM: All 10 Asean countries to receive Rainsy arrest warrants

    Prime Minister Hun Sen said on Thursday that all 10 Association of Southeast Asian Nations (Asean) member states will receive warrants for the arrest of Sam Rainsy. The warrants have already been sent to Laos and Thailand. He was speaking at a joint press conference at

  • Human rights report biased, says Cambodia

    Cambodia has accused the 42nd session of the Human Rights Council in Geneva, Switzerland on Wednesday of having “undermined the principle of objectivity”. In a statement issued on Tuesday, the Permanent Mission of the Kingdom of Cambodia to the UN said the Office of the

  • Kingdom okays 2,400MW power purchase from Laos

    A cabinet meeting on Wednesday decided that the government will purchase 2,400MW of electricity from Laos. A briefing document uploaded by government spokesman Phay Siphan to his Facebook page confirmed this. It said Cambodia will buy exclusive power from two coal-fired power plants in Laos –

  • The need to establish research universities in Cambodia

    In an era of the globalisation and internationalisation of higher education, it is difficult, if not impossible, to disregard the regional and global trend toward building world-class universities. Many governments in Asia and Africa are making significant efforts to establish research-intensive universities to catch up