Vietnam has recorded its fourth consecutive month of falling car sales, figures out today show.
The Vietnam Automobiles Manufacturers Association said that sales in November fell by 49% on the same period last year, to 5,174 units.
“This monthly sales volume is the lowest VAMA monthly sales of the whole year 2008 until now,” the Vietnam Automobiles Manufacturers Association said in a statement.
However, the statement went on to say that the market is up on a cumulative basis so far this year, with sales by the 16 carmakers operating in Vietnam growing 48% in the first 11 months of the year over last year’s period. Sales to the end of November reached 100,910 units.
The industry fears a poor end to the year after a move by the government that sees registration fees move to up to 15% percent of the car’s purchase price.