Vietnamese auto market witnesses sales surge in March

Monday, Apr 15, 2024 14:32

Huyndai Santafe.Hyundai brand continued to lead the Vietnamese auto market in terms of sales with 4,542 vehicles sold in March. — Photo

In March, the Vietnamese automobile market achieved a notable turnaround in total sales, reversing a trend of several months of decline.

According to the Vietnam Automobile Manufacturers’ Association (VAMA), its members sold a total of 27,289 units in March, up 135 per cent against February.

However, the figure was still 9 per cent lower than the sales recorded in March 2023.

In the first quarter of this year, the VAMA members’ total sales reached 58,165 units, down 17 per cent year-on-year. Of the total, that of passenger cars declined by 21 per cent, commercial vehicles by 6 per cent and special-purpose ones by 48 per cent.

In the period, the sales of domestically assembled cars reached 30,919 units, down 20 per cent, while imported cars were 27,246, down 14 per cent compared to the same period last year.

Besides VAMA members, the Vietnamese auto market also includes other automakers such as Audi, Jaguar Land Rover, Mercedes-Benz, Nissan, Subaru, Volkswagen and Volvo, but they did not disclose their business results.

In addition, VinFast, Việt Nam’s first electric vehicle (EV) manufacturer, has not published its monthly sales data since August 2023.

Based on sales reports officially announced by the VAMA and the Thành Cong (TC) Group, in March, the group’s Hyundai brand continued to lead the Vietnamese auto market in terms of sales with 4,542 vehicles sold, followed by Toyota (3,865 units), Ford (3,686), Mitsubishi (3,439), and Honda (2,832).

An abundant supply, combined with the launch of new models and the adjustment of prices to benefit customers, is expected to help the market enter a period of prosperous business and well recover in the rest of 2024. — VNS

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