Auto sales slide 13% due to low post-holiday demand

Total automobile sales in February fell 13% from a month earlier to 17,621 units, according to Vietnam Automobile Manufacturers’ Assocation (VAMA).

Out of the total, 10,044 units were passenger cars, down 32%; 6,344 units were commercial vehicles, up 24%; and 1,233 units were special-purpose vehicles, up 220%, VAMA said in a report released on March 8.

The February sales of completely-built units (CBUs) were at 14,560, a decrease of 6% against January, while more than 3,060 complete knock down units (CKD) were sold last month, down 35%.

auto sales slide 13% due to low post-holiday demand hinh 0
Auto sales slide 13 percent due to low post-holiday demand. (​Photo: autobikes.vn)

Domestic manufacturer Truong Hai Auto Corporation (Thaco) led VAMA members with 7,724 units sold, a year-on-year increase of 85%. The car maker and importer accounted for 45% of the country’s market share.

Thaco was followed by Toyota Vietnam with 3,579 units, up 51% year on year and representing 21% of the market share.

Ford Vietnam came third with 1,881 units, up 26% year on year and accounting for 11% of the market share.

Total automobile sales in the first two months of 2017 rose 8% from the same period last year to 37,851 units with passenger cars and special-purpose vehicles up 21% and 5%, respectively, while commercial vehicles dropped 11%. The number of CBUs sold expanded 13% while CKD slid 5%.

The contractions in February sales were largely due to lower demand for cars after Tet, the biggest holiday of the year which usually witnesses peak demand for cars. 

VNA

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