Việt Nam's total car sales through late July 2023 down 30 per cent compared to 2022. — Photo courtesy of VAMA

Members of the Việt Nam Automobile Manufacturers Association (VAMA) sold 24,687 vehicles in July, up 4 per cent month-on-month, VAMA reported on August 14.

The June figure was 23,800, up 15 per cent from the previous month.

Of the vehicles sold last month, there were 19,221 passenger cars, up 11 per cent; 5,318 commercial vehicles, down 16 per cent; and 148 special-use vehicles, up 21 per cent month-on-month.

In terms of vehicle origin, the sales of domestically-assembled automobiles reached 13,575 units, down 12 per cent, while the number of imported completely built-up (CBU) vehicles was 11,112, up 34 per cent.

In the first seven months of this year, VAMA members sold a total of 162,014 vehicles of all kinds, down 30 per cent year on year, with the sales of passenger cars, commercial and special-use vehicles dropping by 34 per cent, 13 per cent, and 63 per cent, respectively.

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

Meanwhile, Thành Công Group (TC Group) announced sales of 4,035 units in July, bringing its six-month sales to 14,680 units; the respective figures for VinFast were 3,042 and 14,680. VinFast’s electric vehicles, VFe34 and VF5 Plus, were the best-selling of the company with 2,181 units.

Based on the sales reports from VAMA, TC Group and VinFast, Hyundai continued to lead the market in July with 4,035 vehicles, despite a month-on-month decrease of 21 per cent. It was followed by Toyota, KIA, Mitsubishi and Ford.

Honda Vietnam reported an increase in motorcycle and automobile sales in July compared to the previous month.

In July, it sold 152,764 motorcycles, up 14.2 per cent month on month, data showed. Meanwhile, 1,579 cars were delivered to customers, an increase of 12.5 per cent month-on-month. Among them, Honda CR-V and Honda City were the best-sellers at 454 and 467 units sold, respectively.

The Vietnamese auto market is forecast to continue growing from August until the end of this year, thanks to a policy that reduces the registration fee by half. However, purchasing power might not experience the same rapid growth as last year due to the influence of the stock, real estate and consumer lending markets, which are yet to be as strong as they were last year. — VNS