Vietnam's Oct Auto Sales Down 37.2 per cent On-Month

3:55:08 PM | 11/11/2008

Sixteen carmakers under the Vietnam Automobile Manufacturers Association (VAMA) reported modest sales of 5,679 new vehicles in October, down 37.2 per cent on year, due to higher taxes and registration fees.

It is the six consecutive month VAMA members have witnessed a considerable drop in automobile sales, the paper said, quoting VAMA's monthly report.

Despite the on-month fall, sales in the first ten months of this year still kept pace with a rising trend with a record 95,736 cars, trucks and buses sold out, up 64 per cent on-year, the report showed.

Toyota Motor Corp retained its pole position among the manufacturers with Jan-Oct sales surging more than 30 per cent from a year earlier to 20,351 vehicles.

Sales by Ford Motor Co revved up nearly 40 per cent in the period to 5,613 units.

Honda, Mitsubishi Motors Corp, Mitsubishi Co and Proton, Suzuki Motor Corp and Nissho Iwai, part of Sojitz Holdings Corp are among the car makers with assembly plants in Vietnam.

Dealers have said demand would slow for the rest of the year after the government tripled registration fees to 15 per cent of the car's purchase price from August.

Vietnam imported 46,400 fully assembled vehicles valued at US$914 million in the first 10 months of this year, compared with 18,200 vehicles valued at US$373 million in the same period last year.

Imports of vehicles and parts from January to October were worth a combined US$ 2.171 billion, up from US$1.036 billion a year earlier.

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

No	Car marker	Sale (Unit)	On Year Growth ( per cent)
1	Vinamotor*	18,630	+757
2	Toyota	20,351	+30
3	Truong Hai	14,218	+67
4	Vinaxuki	7,227	+43
5	GM Daewoo	9,490	+68
6	Ford	5,613	+39
7	Honda	5,240	+61
8	VinaStar (Mitsubishi)	2,461	-33
9	Isuzu*	3,110	Unch
10	Visuco (Suzuki)	2,597	+21
11	Mekong (Fiat, Ssangyong, PMC)	1,497	+129
12	Hino*	2,301	+164
13	Mercedes-Benz Vietnam	1,823	+2
14	SAMCO	405	-19
15	VMC (BMW, Mazda, Kia)	431	-45
16	Vinacomin – Vinacoal*	342	+4
17	Vindaco (Daihatsu)
	Total	95,736	+64

Note: *: not including bus chassis.

(VAMA)

Other News

Vietnam Says Enough Sugar to Meet Demand for 2009 (11/11/2008) |
Vietnam Seafood Sector Lacks Planning-Official (11/11/2008) |
Pearl Research: Vietnam Online Gamers to Hit 10 Mln by 2010 (11/11/2008) |
Work on Phu Quoc Int'l Airport to Start Late Nov (11/11/2008) |
2.5Mln-ton-per-year Cement Plant Starts Operation (11/11/2008) |
Work Starts on VND1.3-Tln Cement Plant in Northern Province (11/11/2008) |
Vietnam Cuts Petroleum Prices, Hikes Import Tariffs Again (11/11/2008) |
Vietnam National Assembly Approves State Deficit of 4.82 per cent of GDP for 2009 (11/11/2008) |
Foreign Investors Restructure Bond Investment Portfolio: Senior Official (11/11/2008) |
Vietinbank to Fund VND1.2Tln for Vietnam's Largest Bauxite Project (11/11/2008) |

Provinces & Cities:

Vietnam's Oct Auto Sales Down 37.2 per cent On-Month

Other News

Provinces & Cities