Car sales rise sharply

12-Jul-2019 Intellasia | The Saigon Times | 6:02 AM Print This Post

Passenger car sales in the first half of the year rose 35 percent year-on-year to over 110,000 units, according to data from the Vietnam Automobile Manufacturers Association (VAMA).

Meanwhile, the local market recorded a slump in sales of commercial and specialised automobiles by 1.5 percent and 32 percent to some 38,000 and 3,000 units, respectively.

However, the fruitful sales of passenger cars contributed greatly to the country’s total sales of automobiles, which totalled over 150,000 units, equivalent to a 21 percent year-on-year increase.

The sales results show that there is significant room for the local automobile market to grow, especially for passenger cars since the number of people who own this kind of vehicle remains low. Based on the performance in the first half of the year, total sales by the end of the year is expected to exceed 300,000 vehicles.

According to VAMA, sales of locally assembled cars over the first half slipped 14 percent to some 90,000 units, while that of imported cars rose a staggering 203 percent to exceed 60,000 units.

Last month, members and non-members of VAMA, excluding Hyundai Thanh Cong, sold the same number of cars as in May, at more than 27,000 units, up 19 percent versus last-year’s figure.

Sales of locally assembled cars in June bounced back to reach over 16,000, up 6 percent month-on-month, while the volume of completely-built-up vehicles being sold dropped 7 percent.

Further, statistics from Hyundai Thanh Cong show that its sales during the first half of the year hit more than 35,000 cars.


Category: Economy, Vietnam

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