A total of 10,017 cars were sold in February down from 20,536 in February of last year, according to data from the Vietnam Automotive Manufacturers Association and reported by Just Auto.
This article says this was partly due to the Lunar New Year holiday. It also says that car sales received a bump in December and January as buyers rushed to make the most of a 50 percent cut to new car registration taxes that came to an end at the end of last year. However, it’s also worth noting that in December, banks were lending money hand over fist in aggressive marketing campaigns trying to reach credit growth targets for the year. It looks a lot like a decent chunk of these borrowed funds were channelled into the car market.