Source: Xinhua
Editor: huaxia
2022-12-20 21:15:15
HANOI, Dec. 20 (Xinhua) — A total of 369,334 units of automobiles were sold in the Vietnamese market in the first 11 months of this year, up 43 percent year on year, according to the Vietnam Automobile Manufacturers’ Association on Tuesday.
Sales of domestically assembled automobiles surged 41 percent to 208,822 units, while those of imported ones rose 46 percent year on year to 160,512, according to the association’s monthly sales report.
In November, many car models saw slight price increases due to rising input costs, logistics, and exchange rates. However, car traders had to reduce prices in early December due to sluggish sales, the Vietnam News Agency said a recent report.
The sluggish sales are attributed to a tightening credit market, higher interest rates, and stagnant real estate and stock markets. Few people have money to buy cars, so those who are waiting to see at this time must really have a need and enough money, the agency said.
In 2021, 304,149 units of automobiles were sold in Vietnam, up 3 percent year on year, according to the association.
The country spent nearly 8.7 billion U.S. dollars importing completely-built automobiles and components for assembly last year, posting a year-on-year surge of 36.2 percent, Vietnam’s General Statistics Office showed.