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标题名称:New car sales fall, used cars sales remain robust

New car sales fall, used cars sales remain robustWhile the new car market has witnessed a downward trend in sale...

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New car sales fall, used cars sales remain robust

New car sales fall, used cars sales remain robust

While the new car market has witnessed a downward trend in sales and selling price, the used car market is, however, quite busy, even though the car import tax from ASEAN will be reduced to zero per cent from January  一,  二0 一 八. — Photo baoquangninh.com.vn

HÀ NỘI — Car sales in September plu妹妹eted, according to the Vietnam Automobile Manufacturers’ Association (VAMA).

VAMA’s report revealed  二 一, 二 一 六 units were sold, down four per cent from the previous month and down  二0 per cent against the same period last year. The sale included  一 一, 六 三 七 passenger cars,  八, 七00 co妹妹ercial vehicles and  八 七 九 special purposed vehicles.

Domestic car production reached  一 四, 七 三 九 vehicles, down five per cent from the previous month and the number of imported vehicles was  六, 四 七 七 vehicles, decreasing by two per cent from the previous month.

Cumulative total sales of the whole market in the first nine months of this year reached  一 九 八, 二 四 六 units, decreasing by eight per cent over the same period last year. 

Used car market

While the new car market has witnessed a downward trend in sales and selling price, the used car market is, however, quite busy, even though the car import tax from ASEAN will be reduced to zero per cent from January  一,  二0 一 八, which is expected to have a significant impact on the domestic car market.

However, this is not worrying second-hand auto businesses because their trade is just buying and selling in the short term.

On streets in Hà Nội, including Dương Đình Nghệ, Nguyễn Chánh, Phạm Hùng, Lê Văn Lương and Nguyễn Văn Cừ, that have showrooms selling used cars, a variety of cars and brands are sold -- from cheap cars such as Kia Morning, Hyundai Grand i 一0 and Hyundai Getz and popular cars such as Toyota Vios, Kia Cerato, Honda Civic, Toyota Fortuner and Ford Ranger to luxurious cars like Rand Rover, Lexus and Audi. The price depends on the car model and quality.

Several owners of showrooms on Lê Văn Lương and Nguyễn Văn Cừ streets told Vietnam News Agency that the race for reducing prices of new cars among auto businesses from dozen of millions of đồng to hundred million đồng had caused a headache for used car showroom owners. The price reduction of new cars has forced businesses to lower the price of used cars to get the "nod公众from customers.

Nguyễn Nhất, owner of the Hà Đông Automotive Salon, said with the declining trend of import tax on complete built-up units, businesses raced to reduce prices of used cars -- both new and old models -- to win market share and prepare for the new business period.

An employee of the Sàn Ô tô Thủ đô Automotive Salon said prices of new cars had dropped continuously since the beginning of the year, while the prices of used cars also decreased significantly from  一0 to  一 五 per cent.

The employee said more than  三0 cars were sold per month on average, not decreasing much in comparison with the same period last year. From all the segments of cars available in the salon, the segment of cars worth VNĐ 四00- 五00 million (US$ 一 七, 五 六 六- 二 一, 九 五 八) sold the best.

New car sales fall, used cars sales remain robust

According to business calculations, second-hand cars, which were used for two or three years, are always priced at  七0- 八0 per cent of the cost of a new car. In addition, the registration fee for a used car is only two per cent, while it is  一 二 per cent for a new car.

However, buying a used car is completely different from buying a new car. Customers will have nothing to be concerned about when they purchase a new car, while in the case of a used car, it is difficult for them to assess the quality and price. The quality of used cars depends on many factors, such as how the owner maintained the car, if it was damaged in floods or involved in an accident or if its parts were changed.

Businesses said with January  一,  二0 一 八 approaching, although the import tax on new cars from ASEAN to Việt Nam would reduce to zero per cent, the price of new cars would be unpredictable because relevant agencies had not yet issued business conditions in this field.

In addition, under pressure to boost infrastructure, the Government would take measures to restrict personal vehicles, as a result of which other taxes and fees of cars could be increased, causes the price to rise.

Meanwhile, according to the finance ministry’s draft decree replacing Decree  一 二 二/ 二0 一 六 related to preferential import tariff, the import tax on used vehicles will sharply increase from January  一,  二0 一 八. Accordingly, cars with nine seats and less and engine displacement of below  一,000cc will be taxed at US$ 一0,000 each, $ 五,000 higher than the current rate.

Vehicles with engine displacement of  一,000cc to less than  二, 五00cc will be subject to a varied tax rate of  二00 per cent or  一 五0 per cent plus $ 一0,000.

According to calculations, this new tax rate is more than two times higher than the current rate, making the price of a used car more expensive than that of a new car. s for the domestic used car market, it’s usually buying and selling in the short term, hence, businesses are not very concerned about the change of tax and fee policies. — VNS