Vehicle sales in Vietnam by 11 foreign backed car makers jumped 38% year on year to 2,926 units in April, despite a hefty tax increase, an industry association told Reuters.
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But April sales fell 7.6% from March, the Vietnam Automobile Manufacturers Association reportedly said, without giving any reason for the month-on-month decline.
Industry officials told the news agency that, in January, the government raised a special consumption tax on passenger vehicles from 24% to 40%, but consumers, aware that the tax is to increase to 80% by 2007, have been snapping up vehicles to beat future increases.
