Automobile sales in Vietnam posted a month-on-month increase of 20% and a year-on-year surge of 88% in July, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on August 11.
The results show a strong rebound of the Vietnamese automobile market although the 50% registration fee reduction ended in late May.
VAMA has announced that the total sale by its members reached 30,254 vehicles in the month. Of this, the sale of passenger and commercial vehicles expanded by 30% and 1.8%, respectively; while that of special-purpose vehicles saw a decrease of 57% compared to the previous month.
During the January – July period, VAMA's members sold a total of 232,094 vehicles, up 39% year-on-year.
Among the non-VAMA members, TC Motor supplied 5,792 vehicles to the market in July, lifting its total sale in the first seven months of this year to 42,189 units. Meanwhile, VinFast sold 16,832 automobiles during January – July.
Hyundai topped the list of sellers in July with 5,792 units. It was followed by Toyota Vietnam, Mitsubishi Vietnam, Kia Vietnam and VinFast, with 5,565; 4,245; 4,039 and 2,137 units, respectively.
Insiders said with the gradual stability of global economic and political situation, and the stable supply of spare parts and accessories for domestic vehicle assembling, the automobile supply and market will be further improved in the coming time.