Viet­nam’s auto sales drop 6%

China Daily (USA) - - BUSINESS -

Viet­nam’s au­to­mo­bile sales in the first eight months of this year were 177,037 ve­hi­cles, down 6 per­cent year-on-year, the Viet­nam Au­to­mo­bile Man­u­fac­tur­ers As­so­ci­a­tion said on Wed­nes­day. In Au­gust alone, 22,099 au­to­mo­biles of all kinds were sold, up 7 per­cent against July and up 1 per­cent against Au­gust 2016, the as­so­ci­a­tion said, not­ing that sales of pas­sen­ger cars last month stood at 12,568 units, up 12 per­cent against the month earlier. Au­to­mo­bile sales, es­pe­cially those of lo­cal firm Truong Hai and Toy­ota Viet­nam, are likely to in­crease early next year when im­port taxes on ve­hi­cles will be slashed to zero per­cent in line with the ASEAN Free Trade Area, lo­cal ex­perts said. Viet­nam spent nearly $3.5 bil­lion im­port­ing com­pletely-built au­to­mo­biles and com­po­nents for as­sem­bly from Jan­uary to Au­gust, post­ing a year-on-year de­cline of 10.6 per­cent.

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