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Vietnam's automobile sales drop 50 pct in February

HANOI
2024-03-13 17:22

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HANOI, March 13 (Xinhua) -- Vietnam's automobile sales in February fell 50 percent year on year to 11,633 units, marking the largest decline in three years, Vietnam News Agency reported Wednesday, citing the Vietnam Automobile Manufacturers' Association.

The figure was lower than the 13,585 units recorded in February 2021 during the COVID-19 pandemic, according to the report.

The association attributed the auto sales slump chiefly to the week-long Lunar New Year holidays.

Businesses and experts also blamed it on economic challenges and expiration of the 50 percent registration fee reduction on Jan. 1.

From the beginning of March, many of the car brands in the Southeast Asian country have offered discounts and run various promotion programs to boost sales.
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