The VN automotive market has increased in 2021

VIETNAM, January 15 –

Some Huyndai car models. Members of the Vietnam Automobile Manufacturers Association sold 304,149 cars in 2021. — VNA/VNS Photo

HÀ NỘI – The Vietnamese auto market has continued to recover, posting slight growth in 2021, data from manufacturers showed.

The Việt Nam Automobile Manufacturers Association (VAMA) reported that its members sold 304,149 cars in 2021, up 3 percent year-on-year, with passenger cars down 3 percent, commercial vehicles up 17 percent, and specialty vehicles up 50 percent gained cents.

Vehicles sold included 168,357 domestically assembled cars and 135,792 fully built (CBU) units, down 10 percent and up 24 percent year-on-year, respectively.

Aside from the VAMA members, many other brands such as Audi, Jaguar Land Rover, Mercedes-Benz, Nissan, Subaru, Volkswagen and Volvo are also active in the market but have not announced their business results.

Added to the statistics from TC Motor and VinFast, which are not members of VAMA, a total of 410,390 units were sold in the local market last year.

Hyundai remained the best-selling brand in 2021 with 70,518 units, followed by Toyota (67,533), Kia (45,532), VinFast (35,723), Mazda (27,286), Mitsubishi (27,243), Ford (23,708) and Honda (21,698). .

After seven years of market dominance, the Toyota Vios lost its top position as the best-selling model to VinFast Fadil with 24,128 units sold. The following places went to Hyundai Accent, Toyota Vios, Toyota Corolla Cross and KIA Seltos.

Insiders said December sales of passenger cars and domestically assembled vehicles were up 33 percent and 23 percent month-on-month, respectively, due to the halving in registration fees for domestically assembled cars since the month.

Faced with this pressure, CBU importers also lowered related fees to boost sales.

In a further step to spur electric vehicle development and meet the government’s target to reduce emissions, the National Assembly voted earlier this week to reduce the excise tax on battery-powered electric cars for a period of five years.

Effective March 1, the tax on various types of battery electric vehicles (BEVs) will be reduced by 3-12 percentage points from current levels and will apply until February 28, 2027.

Accordingly, the tax rates for electric cars with fewer than nine seats and 10-15 seats will be 3 percent and 2 percent, compared to the current 15 percent and 10 percent, respectively. The rate for electric passenger cars with 16-24 seats is 1 percent compared to the current 5 percent.

According to the National Assembly Standing Committee, the new incentive policy will encourage the purchase of green vehicles and reduce the emissions target of the government.

Also, the committee added, introducing incentives to attract investors earlier than other Southeast Asian countries would create great opportunities for Vietnamese companies to produce BEVs for both domestic and foreign markets. A number of domestic companies are preparing to start production of BEVs. — VNS

Comments are closed.