Domestic automobile market grows 15 per cent in Q1

Tuesday, Jul 18, 2023 11:16

Workers are seen at the Ford Hải Dương production facility in Hải Dương, province, 60 km from Hà Nội. — VNA/VNS Photo

Members of the Vietnam Automobile Manufacturers Association (VAMA) sold 23,800 vehicles in June, up 15 per cent from the previous month, VAMA announced on July 12.

Of the sold vehicles, there were 17,334 passenger cars, up 20 per cent; 6,344 commercial vehicles, up 4 per cent; and 122 special-use vehicles, a drop of 17 per cent compared to the previous month.

In terms of vehicle origins, the sales of domestically-assembled automobiles reached 15,488 units, up 28 per cent, while the number of imported completely built-up (CBU) ones was 8,312, down 4 per cent from the previous month.

In the first six months of 2023, VAMA members sold a total of 137,327 units, down 32 per cent compared to the same period last year with the sales of passenger cars, commercial vehicles, and special-use vehicles dropping by 37 per cent, 11 per cent, and 65 per cent, respectively.

According to experts, besides sales by VAMA member units, the Vietnamese auto market also includes other brands such as Audi, Jaguar Land Rover, Mercedes-Benz, Nissan, Subaru, Volkswagen, and Volvo, but they do not disclose business results.

Honda Vietnam also announced that its retail sales of motorcycles and automobiles in June decreased by 6.2 per cent and 19.2 per cent respectively compared to the previous month due to market difficulties.

In June, Honda Vietnam sold 133,777 motorbikes, with 17,475 exported, and 1,419 cars of all kinds, amounting to a decrease of 19.2 per cent against the previous month.

Meanwhile, Thành Công Group (TC Group) on July 12 announced its sales of 5,108 Hyundai automobiles in June, which brought its six-month figures to 28,011 units sold.

In addition, VinFast reported that it handed 2,660 electric cars over to customers in June. So, in the first half of this year, VinFast delivered 11,143 units.

According to experts, since the Government approved the reduction of 50 per cent of the registration fee for new cars manufactured and assembled in Việt Nam from July 1 (corresponding to a reduction of 5-6 per cent of the price with fees/taxes being included), it is forecast that the Vietnamese auto market will prosper in the coming months. — VNS

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