Which brand of car do Vietnamese people buy the most when receiving reduced registration fees?

Sales data just announced by the Vietnam Automobile Manufacturers Association (VAMA) shows that in July 2023, the total car sales of VAMA members reached 24,687 vehicles, an increase of 887 vehicles equivalent to 4% compared to June 2023.

In the context of a continuous decline in car purchasing power on the market, from July 2023, the preferential policy to reduce registration fees by 50% for domestically assembled cars will once again be issued by the Government through Decree No. Decision 41/2023/ND-CP.

This is considered a policy to stimulate market demand and indirectly support domestic automobile assembly and manufacturing enterprises. After a month of application, this policy continues to help the auto market grow but has not really met the expectations of auto traders in Vietnam.

According to auto distributors, although the policy of reducing registration fees by 50% for domestically assembled cars has been applied, car purchasing power in general has not grown as expected. In addition, many manufacturers and dealers continue to apply discounts for imported cars, but due to the difficult economic situation, consumers are no longer shopping as aggressively as in previous years.

Among them, cars of the Hyundai brand were chosen by Vietnamese people the most in July 2023 with 4,035 cars sold. Toyota ranked second with sales of 3,813 vehicles.

The next two positions belong to Kia and Mitsubishi respectively when both sold more than 3,500 cars in July 2023. Ford and Mazda both sold more than 3,100 cars, but the growth was not significant compared to the previous month. Next, VinFast ranked 6th with sales of 3,042 vehicles. Cumulatively in the past 7 months of 2023, Vietnamese people have bought a total of nearly 209,000 cars of all types, but still about 30% lower than the same period last year.

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