Jan-Sept auto sales dip 8% y-o-yQuoc Hung A model stands next to a car on display at a local auto show. Auto sales in Vietnam fell 8% year-on-year to 198,250 units in the first nine months of 2017 - PHOTO: QUOC HUNG HCMC - Auto sales in Vietnam fell 8% year-on-year to 198,250 units in the first nine months of 2017 as an upcoming reduction of import tariffs for motor vehicles dampened consumption. Data of the Vietnam Automobile Manufacturers Association (VAMA) shows that there were 21,220 cars sold in September, down 4% against the previous month and 20% over the same period last year. Particularly, 11,637 passenger cars, 8,700 commercial vehicles and 879 special-purpose autos found buyers last month. According to VAMA, output of domestically assembled cars last month reached over 14,700 units, down 5% month-on-month, while there were nearly 6,500 completely-built-up (CBU) autos imported, down 2%. All in all, nearly 200,000 cars were sold in … [Read more...] about Jan-Sept auto sales dip 8% y-o-y
Ss auto sales stockton ca
VAMA optimistic about auto sales
VAMA optimistic about auto salesQuoc Hung Toyota Vietnam president and VAMA chairman Toru Kinoshita speaks at a press conference in HCMC on July 28 - PHOTO: QUOC HUNG HCMC – The Vietnam Automobile Manufacturers Association (VAMA) has forecast a 10% increase in auto sales this year, allaying concerns among some manufacturers and traders that consumption might falter. Speaking at a press conference in HCMC on July 28, Toyota Vietnam president and VAMA chairman Toru Kinoshita said the auto market will continue posting positive growth this year. The domestic auto market saw slower sales in the first months of the year as many consumers are waiting until early 2018 when import tariffs on autos from ASEAN countries fall to zero from the current 30%. However, Vietnam’s higher economic growth has fueled demand for cars. Auto sales in the country in January-May slightly picked up against the same period last year with 102,700 cars sold, said … [Read more...] about VAMA optimistic about auto sales
Auto sales slide 13 percent due to low post-holiday demand
Hanoi (VNA) - Total automobile sales in February fell 13 percent from a month earlier to 17,621 units, according to Vietnam Automobile Manufacturers' Assocation (VAMA). Out of the total, 10,044 units were passenger cars, down 32 percent; 6,344 units were commercial vehicles, up 24 percent; and 1,233 units were special-purpose vehicles, up 220 percent, VAMA said in a report released on March 8. The February sales of completely-built units (CBUs) were at 14,560, a decrease of 6 percent against January, while more than 3,060 complete knock down units (CKD) were sold last month, down 35 percent. Domestic manufacturer Truong Hai Auto Corporation (Thaco) led VAMA members with 7,724 units sold, a year-on-year increase of 85 percent. The car maker and importer accounted for 45 percent of the country's market share. Thaco was followed by Toyota Vietnam with 3,579 units, up 51 percent year on year and representing 21 percent of the market share. Ford Vietnam came third with 1,881 units, up 26 … [Read more...] about Auto sales slide 13 percent due to low post-holiday demand
Vietnam auto sales rebound after consecutive drops
After falling for two months, auto sales staged a strong recovery last month with a total of 24,802 units sold, more than twice the February figure. Locally assembled cars accounted for more than 80 percent of the sales, news website VnExpress said Saturday, citing figures from the Vietnam Automobile Manufacturers Association. Truong Hai Auto Corporation held 44.7 percent of the market share, followed by the local units of Toyota and US carmaker Ford. Nearly 60,000 units have been sold in the first three months, up 23 percent from a year ago. Sales dropped 49.4 percent to 11,718 units in February, the lowest in a year. In January there had been a month-on-month decline of more than 21 percent. Many industry insiders have been quoted as saying in the media that the sharp fall in February was because the country was celebrating the Lunar New Year. A new tax rule that took effect on January 1 forcing auto importers to increase their prices by 2-13 percent was another reason, they said. … [Read more...] about Vietnam auto sales rebound after consecutive drops
Auto sales meet targets
The Vietnam Automobile Manufacturers Association (VAMA) reports as many as 110,519 vehicles were sold in 2013, 19 percent more than 2012’s 92,584. Four-seat car sales numbered 44,389 units (up 25 percent) while truck sales stood at 66,130 (up 16 percent). Last year’s improvements were attributed to a brighter economic outlook, attractive financing deals, discounting, and lower car registration fees. They exceeded industry expectations of 10 percent annual growth and marked a significant change from years of disappointing auto sales. Local auto makers sold 13,205 units in December alone, a year-on-year increase of 32 per cent. VAMA Chairman Jesus Metelo Arias noted December was the ninth consecutive month of year-on-year improvement. While December’s increase is partly thanks to the traditional end-of-year shopping, industry insiders also acknowledge the role of attractive auto maker discounting. Most car makers have been forced to reduce retail prices by between … [Read more...] about Auto sales meet targets