Cheap cars are hardly finding customers in recent months, while medium or luxury models are selling very well, local media said.
Lao Dong (Labor) Daily quoted an expert source saying that more and more people can afford luxury cars in recent months, principally due to stock investment gains.
Do Quang Minh, deputy director of Bao Toan Co. Ltd, which distributes Chinese Lifan cars in Vietnam, said the sales of Lifan cars are slow, especially in Vietnam’s largest commercial hub of Ho Chi Minh City, where only 30-40 units have been sold in the past several months.
Ha Ngoc Phu, sales manager of Duc Phuong Auto Co.’s Ho Chi Minh City branch, said the slow sales of its cheap car models are because the new vehicles have not won the trust of local people. Duc Phuong is now importing Chinese-made Fairy and Ideal 2.
Each week, Duc Phuong can sell only 2-3 units.
Last but not least, cheap car manufacturers and traders in Vietnam are forecast to experience severe competition for survival in a few months to come, when many companies begin selling low-priced cars in Vietnam.
Malaysia-led JRD and Truong Hai Auto will roll out their cheap cars after Tet, which falls in mid-February.
However, according to the Vietnam Automobile Manufacturers Association (VAMA)’s sales report, sales of luxury cars like Mercedes Benz vehicles, Toyota Camry and GM Chevrolet Captiva soared in January.
Mercedes Benz enjoyed 376 per cent on-year growth in January sales, VAMA said. (Labour)
Vietnamese
