Automobile market expected to hit sales record

15-Oct-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

Given the high sales of members of the Vietnam Automobile Manufacturers Association (VAMA) and TC Motor, reaching 32,000 units per month between January and September, the local automobile market is forecast to set a new record in sales this year.

VAMA said on October 10 that its members had sold 27,767 vehicles of all types in September, up 29 percent from the month earlier, the local media reported.

The figure comprises 20,916 passenger, 6,532 commercial and 319 specialised vehicles, up 37 percent, 10 percent and 10 percent against the previous month, respectively.

Compared with the figures seen in August, the sales of locally assembled automobiles and imported cars soared by 35 percent and 21 percent in September to 16,994 units and 10,773 units, respectively.

Over the nine-month period this year, VAMA members’ sales totalled 230,334 units, a year-on-year rise of 18 percent, of which passenger vehicles made up over 168,690 units, picking up by 30 percent.

Meanwhile, the local automobile market saw some 57,520 commercial vehicles sold over the January-September period, down 3 percent. The sales of specialised vehicles amounted to 4,117 units, dipping by 27 percent, year-on-year.

Besides VAMA members, other automobile brands, including TC Motor, Audi, Jaguar, Land Rover, Subaru, Volkswagen and Volvo, have entered the local market.

TC Motor alone sold some 7,680 units in September, surging by 43 percent against August. Over the nine-month period, the automobile firm handed over 55,473 vehicles to customers nationwide.

Many experts said that the local automobile market with its current growth momentum will see over 384,000 vehicles sold this year, far exceeding the figure of 2018 at nearly 290,000 and the record of 304,000 units in 2016.


Category: Economy, Vietnam

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