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Vietnamese rush to buy cars as prices fall

Vietnamese rush to buy cars as prices fall Chia sẻ | FaceBookTwitter Email Copy Link Copy link bài viết thành công  05/03/2021    10:00 GMT+7 Though the automobile market has become big enough for manufacturers to step up domestic production, industry policies remain unencouraging. With 300,000 cars sold in 2020, Vietnam has surpassed the Philippines to become the fourth largest automobile market in the region, according to AAF (ASEAN Automotive Federation). Thailand led the region with 792,146 cars sold in 2020, while Indonesia was in the second position with 600,000 cars sold. The third position belonged to Malaysia with 550,000 cars. The figures were 296,634 for Vietnam and 223,793 for the Philippines.

Philippine vehicle output, sales lag in ASEAN

Philippine vehicle output, sales lag in ASEAN Louella Desiderio © STAR/File Philippine vehicle output, sales lag in ASEAN MANILA, Philippines The Philippines ended 2020 with a double-digit decline in motor vehicle production and sales on subdued demand due to the health crisis. Data released by the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF) showed motor vehicles assembled in the Philippines fell 29 percent to 67,297 units last year from 95,094 units in 2019. Other countries tracked by the AAF also felt the impact of the pandemic as motor vehicle assembly operations last year slowed in Indonesia (-46 percent), Myanmar (-31 percent), Thailand (-29 percent), Malaysia (-15 percent) and Vietnam (-6 percent).

ASEAN wide motor vehicle sales plunge 29% in 2020

Motor vehicle sales in ASEAN plunged 29 percent in pandemic year 2020 with all countries in the red with Indonesia and the Philippines posting the steepest declines, data from the ASEAN Automotive Federation (AAF) showed. Based on the AFF data, ASEAN countries’ combined sales reached only 2,453,8

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