Car sales in Vietnam surge 45% in 2020 final month
Car sales in Vietnam in 2020 dropped 8% year-on-year to 296,634 units across all segments.
Car sales in Vietnam in 2020 dropped 8% year-on-year to 296,634 units across all segments.
The plant, considered one of the most important projects of Hyundai, is invested with an estimated VND3.2 trillion (US$137.44 million) and able to produce 100,000 vehicles per year.
The figure marked the first decline in car sales in four months, following month-on-month increases of 0.3% in July, 26.4% in June and 103% in May.
Car sales number in Vietnam in the first seven months of this year dropped 28% year-on-year to 131,248 units across all segments.
The government’s decision to slash the registration fee for domestically-produced cars by 50% is set to further boost the sale of domestic cars in the two remaining quarters of this year.
In January, Vietnam imported nearly 4,000 cars worth US$106 million, up 14% month-on-month in volume but down nearly 49% in value.