A long Lunar New Year holidays, the ending of registration fee cut and impacts from COVID-19 pandemic are major reasons behind a strong fall of automobile sales in February, according to insiders.
A report by the Vietnam Automobile Manufacturers' Association (VAMA) said its members sold 13,585 vehicles in the month, a drop of 22% over the previous month.
The figure comprised 6,939 passenger cars, 3,767 commercial and 179 special-use vehicles.
The sales of domestically-assembled vehicles fell 41% month on month to 8,610 vehicles, while that of completely built-up (CBU) vehicles dropped 58% over January to 4,975 units.
However, VAMA member automakers’ sales in the first two months of this year still rose 21% year on year to 40,017 vehicles.
Experts held that the figure did not reflect the situation of the Vietnamese automobile market, as it did not include sales of many brands such as Audi, Jaguar Land Rover, Mercedes-Benz, Subaru, Volkswagen and Volvo, whose sales were not revealed.
In February, TC Motor alone sold 3,021 vehicles, while Vinfast also sold 1,718 vehicles. In the first two months, the two brands sold 18,324 vehicles in combination.
TC Motor led all brands in February sales with 3,021 vehicles, followed by Kia with 2,488 vehicles, Toyota with 2.411 vehicles, VinFast with 1,718 vehicles, Mazda with 1,440 vehicles, Honda with 1,281 vehicles, and Ford with 1,094 vehicles.
VinFast Fadil and Kia Seltos were bestsellers in the month with sales of over 1,000 vehicles each.