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Vietnam auto sales drop for fourth straight month

4:49 PM Posted by NEW TECHNOLOGY
Vietnam auto sales drop for fourth straight month



Vietnam sales of locally assembled autos dropped for a fourth month in a row amid a wider economic slowdown, with November sales down 49 percent year-on-year, an industry group said Saturday.

A total of 5,174 cars, trucks and buses were sold in November by the 16 members of the Vietnam Automobile Manufacturers’ Association (VAMA), compared to 10,110 units in the same month last year, they said in a report.

Vietnam has this year struggled with high inflation, which stood at 24.2 percent in November, while economic growth for the year is projected to drop to around 6.5 percent amid the global downturn, from 8.5 percent last year.

VAMA said that, despite the slowdown of recent months, total auto sales for the January-November period were still up 48 percent against the same period last year, at 100,910 units, thanks to higher sales early this year.

Topping Vietnam sales for the year was Japan’s Toyota with 21,816 units sold. Next came domestic car-makers Vinamotor, with 19,536 units sold, and Truong Hai, with 14,925 units sold, VAMA said.

Source: AFP

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