A corner of Hyundai service centre of TC Motor in Hanoi (Source: VNA)Hanoi (VNA) - Nearly 400,000 cars were sold inthe Vietnamese market in 2019 thanks to valuable gift and discount programmes,which were launched at the beginning of the year, said the Vietnam AutomobileManufacturers’ Association (VAMA).
Of the figure, more than 320,300 units were soldby VAMA members, marking a year-on-year increase of 12 percent. The othernearly 80,000 units came from TC Motors.
VAMA said that the above sales did not fullyreflect the overall figures for the automobile market, because there was alsothe presence of Audi, Jaguar, Land Rover, Mercedes- Benz, Subaru, Volkswagen,Volvo and Vietnamese automaker VinFast.
To achieve the above sales, businesses offeredpromotions, incentives, discounted car sales and valuable accessories for carbuyers.
Toyota Motors Vietnam offers up to 100 millionVND (4,300 USD) for customers buying Corolla Altis, Vios, Innova and Fortunercars. VinFast also offers a discount of 100 million VND to buyers of TrailblazerSUVs.
Meanwhile, Mitsubishi reduced prices by up to 91million VND and presented gifts to customers who bought Attrage, Mirage,Outlander, Pajero Sport and Triton models. Mazda Vietnam also cut all itsmodels by 100 million VND.
Insiders said Viet Nam’s automobile market in2020 would maintain a growth rate of 10-20 percent thanks to the currentabundant supply of cars.
Pham Van Dung, CEO of Ford Vietnam, saidbusinesses would continue to launch promotional programmes to stimulateconsumption as well as introduce new cars to meet demand.
Dung said the demand for cars was increasing.Many people would want to buy new cars, not only to be safer on the road butalso to experience new models.
According to a forecast by Viet DragonSecurities Corporation (VDSC), the Vietnam automobile industry has manyopportunities to develop in the future.
The VDSC statement was based on three factorssupporting the development of the retail automobile market.
The first one is rising incomes, which in turnsleads to higher demand for cars. This is forecast to continue, as the country’sGDP is forecast to be 7 percent per year in 2021-2030.
The second factor is based on strong developmentinfrastructure, while the last factor is that the rate of car owners in Vietnamis still much lower than that of Southeast Asia./.
VNA
