Auto sales by 16 domestic carmakers increased by 37 per cent on-year to a record 110,186 vehicles in 2008, according to figure released by the Vietnam Automobiles Manufacturers Association (VAMA) late last week.
In December, car sales in Vietnam dropped by 23 per cent from the same month in 2007 to 9,293 units as a result of falling demand fueled by higher taxes and the economic slowdown, the figure shows.
Dealers say demand will slow significantly in 2009 after the government tripled registration fees to up to 15 per cent of a car's purchase price from August last year, adding to the effects of the economic slowdown.
Toyota Motor Corp retained its pole position among the manufacturers with January-December sales surging 21 per cent from a year earlier to 24,421 vehicles. Followings are domestic carmakers Vinamotor, with 20,887 units, and Truong Hai, with 16,373 units sold.
Sales by Ford Motor Co also rose 9 per cent to 6,494 units, VAMA said.
VAMA last month asked the government for tax relief to help boost the sector, media reports said.
Deputy Minister of Industry and Trade Le Duy Quang promised to consider the request but said the drop in automobile sales was due to the wider economic slowdown rather than taxes.
Last year, Vietnam imported a record of 50,400 cars valued at US$2.44 billion, up US$1 billion from a year ago, according to the Government Statistics Office. (People’s Police, Labor)
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