Vietnam imported 4,000 cars worth 60 million USD in May, bringing
the total car imports in the first five months of the year to 14,000
units, worth 247 million USD, according to the General Office of
Statistic.

The January-May imports represented a
year-on-year increase of 13 percent in import volume and 3.5 percent in
value, the office said.

Car importers and traders
said the April 1 cut in registration fees from 20-15 percent to 15-10
percent had encouraged buyers, along with the loosened credits for
automobiles.

They also said a rumour that
registration fees would be cut further from the current 12 percent to 10
percent also triggered the market.

Vietnam ’s
automobile market was reported to be gradually heating up in recent
months, though the extent of the recovery remained unclear.

The Vietnam Automobile Manufactures’ Association (VAMA) reported
that sales of locally assembled automobiles in April rose 4.8 percent
over March and 26 percent over the same month last year, totaling more
than 8,780 units.

For the four month period, more than 30,410 units were sold, an increase of 3 percent over the same period last year.

Members of VAMA also reported stable sales growth in April. The
association raised its prediction of total car sales this year from
100,000 to 103,000.

Ford Vietnam sales and marketing director Truong Kim Phong said increased demand had pushed up sales for his company.-VNA