Analyst Pin-board Automotive Industry - Semiconductors scarcity may slow down the industry’s growth
Results of 1Q2021
According to VAMA, 1Q2021 sales increased by 32% YoY, to 66,191 units. Passenger car sales had a strong recovery with an increase of 34% YoY, reaching 49,428 units. Why? (1) Car manufacturers (such as Mitsubishi, VinFast, Mercedes-Benz, MG and Honda) actively supported registration fees for customers as the policy of supporting 50% of registration fees from the Government ended last year; (2) Every five years, some carmakers have drastic adjustments to their designs and this year (2021) is the first year of the new cycle so many new models were offered; (3) Vietnam’s well controlled Covid-19 helped the economy to grow, thereby contributing to boost the demand.
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