The Vietnam Automobile Manufacturers' Association (VAMA) has reported the domestic auto industry sold nearly 9,731 units in May, up 11% on April and 42 percent more than the same month in 2012.
The VAMA said the registration fee reduction that entered into effect on April 1—cutting prices from 15–20% of value to 10–15%—has stimulated sales.
The association predicts that if authorities routinely apply the minimal 10% registration fee, car sales this year could total 108,000, or 8,000 more than its previous estimates.
More than 40,145 units were sold over the entire four-month period, a 10% increase on the same period last year.
May's auto sales revealed a significant difference between Completely Knocked Down (CKD) units and Completely Built Up (CBU) units.
CBU vehicle sales saw a sharp 61% increase in May amounting to 2,253 units, while CKD vehicles edged up only 1% to 7,478 units.
Some manufactures are preparing to release their newest models at Ho Chi Minh City's upcoming Vietnam Motor Show 2013. These include the Mercedes GLK220 CDI, Mercedes A-class, BMV 3 GT, Honda City, Honda CR-V, Hyundai Elantra, and Nissan Sunny.
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