November’s domestic auto sales dropped suddenly after several months of high growth.
Local auto traders are optimistic the biggest holiday of the year will boost their revenues. They are expected to benefit from Ho Chi Minh City’s decision to reduce registration fees by 10% for vehicles with less than 10 seats from January next year.
October auto sales were at record levels. Most of the month’s more than 10,000 units sold were from Honda, Toyota, Ford, GM, and Vinastar. The figure was 2,000 units higher than the same period in 2012.
The Vietnam Automobile Manufacturers’ Association predicts the domestic auto industry will have sold 109,000 units by the end of this year, the modest year-on-year increase credited to changes in tax policy and economic recovery.