Sales of passenger cars rose by 35 percent and commercial vehicles sales by 0.2 percent, but sales of special-purpose vehicles plummeted by 39 percent. In May alone, the vehicle sales surged 19 percent to 27,480 units from a year earlier. Last month, Toyota regained its top spot from domestic manufacturer Truong Hai Auto (Thaco) with a 24.1 percent share compared to the latter’s 18.9 percent. Sales of its Vios sedan almost doubled during the month to well over 2,100 units. Thaco sold only 4,868 units in May, down 40 percent from the previous month, with Kia, Mazda and Peugeot passenger vehicles accounting for around half and buses and trucks for the rest. Ford was in third place with a 12.4 percent market share, followed by Mitsubishi and Honda with 11.8 and 11.4 percent. Vietnamese companies only use 7-10 percent of local parts and import the rest. To put it in perspective the average use of local parts in Southeast Asian countries is 65-70 percent, according to the … [Read more...] about Vietnam sees surge in auto sales
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Promotions help boost auto sales in May
Various promotions and discount programmes were carried out to spur car sales in May. (Photo: VNA) Hanoi (VNA) – Vietnamese automobile manufacturers and distributors had a banner month in May as the sales of car experienced a strong monthly growth of 30 percent following a line-up of promotions and discount programmes. A total of 27,373 units were sold in May, surging 18 percent from the same time last year, the Vietnam Automobile Manufacturers’ Association (VAMA) said. The sales included 19,517 passenger cars, 7,345 commercial cars, and 511 special purpose vehicles. VAMA reported the sales of locally-assembled cars saw modest growth of 8 percent to 15,162 units while that of imported vehicles increased sharply by 75 percent to 12,211 units. Giants such as Truong Hai Auto Corporation (Thaco), Toyota, Mitsubishi, Ford and Honda claimed the majority of market share. Domestic automaker Thaco led car sales in Vietnam with 7,540 vehicles sold in May (down 14 percent from … [Read more...] about Promotions help boost auto sales in May
Auto sales down despite of strong discounts
An assembly line at Hyundai Thanh Cong Automobile Factory in northern Ninh Binh province. (Photo: VNA) Hanoi (VNS/VNA) - Despite huge reductions in the price of motor vehicles, car dealerships said sales have been unexpectedly slow in recent weeks. Price cutting deals, in some cases reductions of tens of millions of VND during recent holidays, failed to attract the expected amount of buyers. Nissen Vietnam slashed prices by up to 70 million VND for buyers of Sunny, Navara, X-Trail and SUV Terra vehicles. They also offered deals for registration fees and offered free gifts with certain cars. Isuzu also offered similar sale prices along with Toyota Motor Vietnam (TMV) and BMW, but again, sales slowed. According to the latest report from the Vietnam Automobile Manufacturers’ Association (VAMA), the total sales in April were 21,021, down 35 percent compared with the previous month. Taking into account the sales of 6,176 vehicles of Hyundai Thanh Cong and VAMA member units, the … [Read more...] about Auto sales down despite of strong discounts
September auto sales up, changing domestic market share
Viet Nam News HÀ NỘI — Sales of cars in September reached 25,351 units in the Vietnamese market, increasing by 19 per cent compared with the same period last year, according to Vietnam Automobile Manufacturers’ Association (VAMA). The latest VAMA report showed that both segments of locally-assembled cars and imported vehicles saw impressive growth of volumes at 17,325 units and 8,026 units, up 16 per cent respectively. In terms of market share, September saw a sharp increase in imported cars to Việt Nam so the domestic automakers’ market share was impacted. Domestic assembler Trường Hải Auto Group (Thaco) fell from 32.2 per cent to 29.3 per cent, though sales increased from 6,200 units in August to 18,018 units in September. Meanwhile, Toyota’s market share increased from 24.6 per cent to 26.1 per cent, followed by sales growth from 4,729 vehicles to 6,259 vehicles in September, shortening the sales gap with Thaco, the … [Read more...] about September auto sales up, changing domestic market share
Fall in auto sales indicator of consumer confidence
The Vietnam Automobile Manufacturers' Association (VAMA) said that its members sold 6,116 units in February, down 25% from a year earlier. Economic policies make it more difficult to afford cars The figure indicated a rise of nearly 2,000 units or about 40% from January. However, sales of multi-purpose vehicles in February were down 38%, private cars down 28% and passenger vehicles down 20% from the same period last year. The weak sales have been attributed to increased taxes and fees, economic difficulties, the proposal to levy congestion charges and the lack of parking. Toyota and Kia were the most popular cars during the month, recording the best revenues during the period. Toyota sold a total of 820 units in February, mainly Corolla Altis and Vios. Meanwhile, Kia sold 402 units during the month, including Morning/Picanto and Forte/Cerato. VAMA members have not introduced any new models recently. In terms of total car sales, Truong Hai, Toyota, Vinaxuki and GM still topped … [Read more...] about Fall in auto sales indicator of consumer confidence