Auto market to hit top gear

June 28, 2013 | 13:53

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A policy move is expected to help the auto market kick into gear.

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Hanoi and Ho Chi Minh City authorities were reportedly considering lowering first-time registration fee for cars from 15 to 12 per cent in Hanoi and 10 per cent in Ho Chi Minh City which has garnered consumers’ special attention.

To bolster the market demand, car joint ventures have constantly rolled out new models like Mercedes GLK220 CDI, Mercedes A-Class, BMW 3 GT, Honda City, Honda CR-V, Hyundai Elantra or Nissan Sunny.

Particularly, England’s Rolls Royce Motor Cars will open its show-room and appoint sales dealer in Vietnam this week. Around 93 Rolls Royce cars are reportedly riding on Vietnamese roads.

Another Toyota topnotch brand Lexus is in a preparatory phase for its official entrance to Vietnam slated on the Vietnam Motor Show 2013 in October.

In May, Vietnam Automobile Manufacturer’s Association (VAMA) members sold 9,731 cars, up 11 per cent against April and jumping 42 per cent on-year.

Taking the lead was Toyota Vietnam with around 2,800 cars, leaping 74 per cent on-year.

Other brands also reported fair growth compared to gloomy sales figures a year ago. For instance, Ford eyed 176 per cent growth in sales volumes with 620 cars, Kia brand of Truong Hau Auto posted 26 per cent hike with 740 cars; Honda Vietnam witnessed 167 per cent hike and Mitsubishi of Vinastar eyed 40 per cent hike in sales volume.

“The auto sector’s recovery would be stronger in the coming months if localities uniformly applied 10 per cent first-time registration fee. In this case, the auto market total consumption would surge to 108,000 units instead of 100,000 units as proposed in early 2013,” according to a VAMA report.

By By Hoang Minh

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