Auto sales in Vietnam down 20.1% in September

According to the Vietnam Automobile Manufacturers Association (VAMA) report issued on October 10, automobile sales (including non-VAMA manufactures) in Vietnam were down 20.1% year on year to 21,216 units in September.
CKD volume was 14,739 units, and CBU volume was 6,477 units.
VAMA members (20 manufactures) sales in September were down 20.2% to 19,257 units. VAMA members passenger car sales were down 23.3%, commercial vehicles were down 12.1%, and special purpose vehicles were down 43.7%.
By brand sales in September based on MarkLines Data Center figures, Truong Hai was down 41.8% to 4,196 units. Toyota (excluding Lexus) was down 19.6% to 4,109 units. Ford was down 14.4% to 2,271 units. Honda was up 100.3% to 2,073 units. VinaMazda was down 50.0% to 1,426 units.
In line with ASEAN Trade in Goods Agreement, Vietnam lowered the tariff on the CBU imports from ASEAN countries from 40% to 30% in January 2017. The zero-tariff policy for car imports from ASEAN nations will go into effect on January 1, 2018.
Vietnamese automakers and importers have been racing to reduce the price of many models in recent months. However, customers are waiting for prices to drop even further.
YTD sales in Vietnam were down 7.5% to 198,253 units. YTD CKD sales were down 12.8% to 141,723, while CBU sales were up 9.0% to 56,530 units.