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Vietnam’s auto sales rebound after 6-month decline

Vietnam’s auto sales rebound after 6-month decline

Wednesday, October 13, 2021, 16:30 GMT+7
Vietnam’s auto sales rebound after 6-month decline
Customers visit a car showroom in Ho Chi Minh City. Photo: C. Trung / Tuoi Tre

Vietnam has seen automobile consumption bouncing back following almost six months of steep declines as car showrooms closed due to COVID-19 social distancing orders.

The latest data by the Vietnam Automobile Manufacturers’ Association (VAMA) reveals that a total of 13,537 cars were sold in September, up 52 percent against August but down 50 percent year on year.

TC Motor, the distributor of Hyundai cars in Vietnam, said it sold 4,079 units last month, up 87 percent from August, according to the Vietnam News Agency

Vinfast, a domestic automaker under Vietnam’s largest private conglomerate Vingroup, also saw strong sales growth in September with 3,497 vehicles sold, up 51.4 percent compared to August.

The combined sales of VAMA members, TC Motor, and Vinfast hit 21,113 vehicles in September and 258,791 cars in January-September.

Other brands like Audi, Jaguar Land Rover, Mercedes-Benz, Subaru, Volkswagen, Volvo, and many more refused to disclose their figures.

Of these, sales of passenger cars in September jumped 34 percent against the previous month, reaching 8,347 units. 

Commercial vehicle deliveries increased 108 percent to 4,886 units while special-purpose vehicles contracted two percent to 304 autos.

Deliveries of completely-knocked down (CKD) vehicles grew 37 percent to 7,316 units, while sales of completely-built unit (CBU) vehicles surged 76 percent to 6,221 autos over a month earlier.

The best-selling models were VinFast Fadil with 2,565 units, followed by Hyundai Accent with 1,392 cars.

Experts forecast the Vietnamese car market will post growth toward the end of the year as customer demand is supposed to rise during the post-pandemic economic recovery.

However, the full-year numbers may be lower than expected after the market has spent nearly two-thirds of the year under the adverse impacts of the coronavirus crisis, according to the experts. 

In the coming time, dealers and car manufacturers will likely continue launching promotion programs and new car models to attract more buyers.

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