Over 41,000 Automobiles Assembled in 11 Months

Over 41,000 Automobiles Assembled in 11 Months

Automobile manufacturers in Vietnam are estimated to assemble 41,096 automobiles in the first eleven months of this year, representing a year-on-year decrease of 0.8 per cent, according to the government General Statistics Office (GSO).

In November, automakers are forecast to turn out 4,699 automobiles, down 8.2 per cent compared with the same period last year.

They produced 36,397 cars in the January-October period.

Foreign-invested firms led the auto industry, with 33,389 units in the eleven-month period (down 5 per cent on year) and 3,962 in November, the private sector turned out 863 (up 43.4 per cent) and 115 (up 35.3 per cent), respectively, and the state-owned sector produced 6,844 (up 20.9 per cent) and 622 (down 12.7 per cent), respectively.

Eleven foreign-led automobile assemblers sold 4,863 automobiles in October, bringing their total in the January-October period to 27,310 units, down 9.3 per cent on-year.

Vietnam saw a sharp fall in demand in the first half of this year due to tax increases and the demand has been surging in the second half of the year, ahead of another anticipated rise in the special consumption tax next year.

• T.T