Jan-Juls Locally-Made Car Sales Hit Record in Vietnam

4:33:03 PM | 8/11/2008

Sales of locally assembled automobiles in Vietnam increased 120 per cent on-year to a record high of 77,067 units in the first seven months this year, the Vietnam Automobile Manufacturers Association (VAMA) reported August 7.

Sales of commercial vehicles were up 184 per cent on year to 45,273 units while passenger car sales growing 84 per cent to 14,562 units, the association said.

VAMA also announced that local carmakers sold out 8,458 cars, trucks and buses last month, up 31 per cent from a year earlier but down 1,291 units over June, partly reflecting a slowdown in Vietnam's economy.

Vinamotor topped the list in the number of units sold from January to July with 15,859 cars, too high as compared to the total 5,476 unit it reportedly sold last year.

In the period, Toyota took its lead among the 12 foreign-invested automobile manufacturers, selling 14,941 cars, up 50 per cent on year, followed by GM Daewoo with 7,608 units (+9.9 per cent), Honda 4,352 units (+5.6 per cent), and Ford 4,346 units (+5.6 per cent).

Other domestic carmakers also saw growth. Truong Hai reportedly sold 6,870 units in July (+126 per cent), and Vinaxuki 2,783 units (+86 per cent).

Dealers said demand for cars in the remaining months of this year would slow after the government said it will triple registration fees to 15 per cent from Aug 14, and following a 36 per cent rise in fuel prices from July 21.

Car imports in July fell to 3,000 fully assembled units from 4,500 units in June, while the total vehicles imported since early this year still surged 290 per cent on-year to 43,000 units, government figures show.

Following table is the breakdown of car sales, market shares and the growth of the 17 VAMA carmakers in January-July 2008.

No	Car marker	Sale (Unit)	On Year Growth ( per cent)
1	Vinamotor*	15,859	N.A.
2	Toyota	14,941	+50
3	Truong Hai	12,303	+126
4	Vinaxuki	6,014	+86
5	GM Daewoo	7,608	+126
6	Ford	4,346	+73
7	Honda	4,352	+124
8	VinaStar (Mitsubishi)	1,946	-12
9	Isuzu*	2,374	+31
10	Visuco (Suzuki)	2,010	+54
11	Mekong (Fiat, Ssangyong, PMC)	1,317	+206
12	Hino*	1,782	+216
13	Mercedes-Benz Vietnam	1,134	+32
14	SAMCO	356	+16
15	VMC (BMW, Mazda, Kia)	321	-42
16	Vinacomin – Vinacoal*	227	+51
17	Vindaco (Daihatsu)	N.A	-100 per cent
	Total	77,067	+120 per cent

Note: *: not including bus chassis. (VAMA Release July 2008, Pioneer)

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