Vietnam’s automobile sales have borne the brunt of COVID-19, seeing a record low in August since 2015.

Vietnamese producers have been put under pressure because of the complex developments of the pandemic, but, in risks, opportunities always exist.

Automobile sales in Vietnam plunged in July due to the complications of COVID-19 and social distancing measures being applied in many localities nationwide.

VOV.VN - The opening seven months of the year saw Vietnamese exports to the EU market reach US$22.5 billion, an annual increase of 15.5%, according to data released by the Ministry of Industry and Trade.

Semiconductor chip shortage has caused a crisis for major automobile producers in the world, forcing them to suspend production and extend the time to deliver their products, but for Vietnamese ones, the impacts are quite minor as they still can ensure normal production and business activities.

Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold 23,587 vehicles in June, down 8% month-on-month.

Honda Vietnam posted an 8.9% increase in retail sales of automobiles but a 16.9% drop in that of motorbikes in June, the firm announced on July 10.

Limited market capacity and price differences between domestically produced cars and imported cars are the two biggest bottlenecks for the local auto industry, according to the latest report from the Ministry of Industry and Trade (MoIT).

The budget revenue increased significantly in the first five months of this year thanks to recovery from 2020 and some sectors seeing strong growth, such as banking, securities, real estate and automobile industries, according to the General Department of Taxation.

VOV.VN - Vietnam exported 548,000 tonnes of rubber worth US$923 million during the opening five months of the year, up 58.7% in volume and 94% in value compared to the same period last year, according to the Ministry of Industry and Trade.