Analyst Pin-board Automotive Industry - Positive future
Results of 10M2020
In 6M2020, Covid-19 had a negative impact on the auto industry, causing sales of VAMA members to drop by 30% YoY, to 102,720 units. However, Government policies including a 50% reduction of registration fees for domestically manufactured and assembled cars and a 0% import tax on raw materials, components and supplies that are not yet produced domestically helped to reduce the cost of buying a car and restore the demand. Sales from July to October reached 104,424 units (+1% YoY). After 10M2020, the auto industry recorded a decline of 17% YoY, reaching only 204,144 units.
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