Car and motorbike sales have been dropping sharply since the end of July as people are unwilling to make big-ticket purchases in ‘Ghost Month’.
Source: Free Pics
In Vietnam and several other Asian countries, the seventh lunar month is believed to be a period of bad luck and inauspicious for buying major items such as cars and holding important events like weddings and ground-breaking for houses.
Nguyen Thanh Danh, the owner of Ho Chi Minh City car showroom Saigon Hoang Minh, said sales usually fall during Ghost Month despite attractive promotions.
Car dealers on Cong Hoa street in Tan Binh district said lots of customers have made deposits but refused to take delivery during the month, giving excuses such as traveling overseas.
Car dealers have been offering gifts to buyers such as accessories worth tens of millions of dong.
Many brands have also cut prices. The Chevrolet Orlando is nearly 100 million VND cheaper than just 600 million VND. Ford and Hyundai have also reduced the prices of some models.
Prices of motorbikes such as the Honda SH have fallen to 82-99 million VND (3,727-4,500 USD).
Those of others such as Honda PCX, Air Blade, and Lead have also been cut a little.
Honda has launched a big promotion campaign until September 15 offering free mobile phone top-up cards on certain purchases.
Customers are also offered low-interest rates for paying in installments.
Source: Việt Nam Agency