Auto sales surge 30% in first nine months

HCMC – Auto sales in the January-October period hit 242,214 units, up 30% year-on-year and almost equaling the result of the whole last year, the Vietnam Automobile Manufacturers Association (VAMA) said in its latest report.

 

Autos are on display at an exhibition in HCMC - PHOTO: QUOC HUNG

Of the volume, passenger cars rose 31% to 141,500 units, commercial vehicles surged 29% to 87,670 units and special-purpose autos up 40% to 13,500 units.

VAMA predicted sales would continue rising in the last two months of the year owing to increasing demand.

According to business insiders, this year’s auto sales may reach 300,000 units, setting up a new record after 244,914 autos found buyers last year, a strong year-on-year increase of 55%.

October had seen the highest auto sales since the beginning of the year, up 7% against September and 26% versus a year ago.

Last month, 18,134 passenger cars and 1,221 special-purpose autos were sold, up 11% and 10% month-on-month respectively. However, the sales volume of commercial vehicles was down by 2% to 8,928 units.

Among them, 20,879 units were domestically assembled, up 1.5% over September, while 7,404 units were completely built-up (CBU) vehicles, surging 24%.

VAMA members also reported strong business results in October.

Truong Hai Auto Joint Stock Company (Thaco) continued to lead the market with 9,895 autos sold, accounting for 40.4% of the market, followed by Toyota Vietnam with 5,532 units, or a market share of 22.6%, Ford Vietnam and Honda Vietnam registered 2,430 and 1,247 units respectively.

Source: The Saigon Times.