Vietnam auto market slides to fifth in S-E Asia

Domestic auto sales in August plunged nearly 27% year-on-year to 22,540 units as consumers continued to tighten their spending amid economic difficulties.— Vietnam News

HANOI: The recent decline in Vietnam’s car consumption and its drop to fifth place in South-East Asia can be attributed to both external and internal factors, car experts say.

According to the Association of South-East Asian Automobile Manufacturers, in the first six months this year, Indonesia took the lead in car sales with 505,000 units, an increase of 6.3% over the same period last year.