Vietnam’s automobile market grows 15% in H1

Of the sold vehicles, there were 17,334 passenger cars, up 20%; 6,344 commercial vehicles, up 4%; and 122 special-use vehicles, a drop of 17% compared to the previous month.

In terms of vehicle origins, the sales of domestically-assembled automobiles reached 15,488 units, up 28%, while the number of imported completely built-up (CBU) ones was 8,312, down 4% from the previous month.

In the first six months of 2023, VAMA members sold a total of 137,327 units, down 32% compared to the same period last year with the sales of passenger cars, commercial vehicles, and special-use vehicles dropping by 37%, 11%, and 65%, respectively.

According to experts, besides sales by VAMA member units, the Vietnamese auto market also includes other automakers such as Audi, Jaguar Land Rover, Mercedes-Benz, Nissan, Subaru, Volkswagen, and Volvo, but they do not disclose business results.

Meanwhile, Thanh Cong Group (TC Group) on July 12 announced its sales of 5,108 Hyundai automobiles in June, which brought its six-month sale to 28,011 units.

In addition, VinFast reported that it handed 2,660 electric cars over to customers in June. So, in the first half of this year, VinFast delivered 11,143 units. 

According to experts, as the Government approved the reduction of 50% of the registration fee for new cars manufactured and assembled in Vietnam from July 1 (corresponding to a reduction of 5% - 6% of the price with fees/taxes being included), it is forecast that the Vietnamese auto market will prosper in the coming months.