Many auto firms are applying non-profit sale mode to maintain production and reduce inventory, said Laurent Charpentier, chairman of the Vietnam Automobile Manufacturers Association (VAMA).
The written reply of the Ministry of Transport saying it would need a couple of years until the scheme on personal vehicle restriction fee comes into practice has sparked a ray of hope for the auto market. Local media, social organizations and many auto forums agree that the scheme should undergo more consultations before it could go ahead.
In just a few weeks after the reply was given, it is unclear whether auto sales have picked up or not since most traders and importers do not post their sales figures, said Charpentier, who is also managing director of Ford Vietnam.
He forecast Ford Vietnam?s sales would inch up in the third quarter against the second quarter and increase further in the last quarter.
He proposed the Government should further boost economic growth and stimulate the market in the rest of the year by injecting money into the economy after the GDP growth had slowed down sharply year-on-year in the first six months.
The fact that lending rates are going down will offer more chances for consumers and enterprises to access credit capital, Charpentier told the Daily. Vietnamese people still has demand for cars, he stressed, and automakers are launching new products to serve the peak season at year-end.
He said Ford Vietnam had launched many promotion programs since the year?s beginning, yet its sales performance did not improve much. The auto firm has to prolong its promotion programs and offer car buyers more supports.
Moreover, the company has been selling its products for no profit over the past few months. Many auto traders are doing the same in order to maintain production and tackle rising inventory, said the VAMA chairman.
?Car prices are very good now and can hardly drop further,? he added.
Though there are no official statistics, Charpentier said auto firms were now suffering from high volumes of unsold products. Several auto producers have reduced production and cut down on labor.
Charpentier predicted consumption of locally-assembled and imported vehicles would reach 90,000-95,000, versus the initial forecast of 85,000 units due to the unfavorable signals.
The Saigon Times Daily
Source: http://www.saigonmoney.com/2012/08/01/many-auto-firms-sell-products-for-no-profit/
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