Vietnam’s automobile sales slightly grow in July

Meanwhile, the June figure was 23,800, up 15% from the previous month.

Of the vehicles sold last month, there were 19,221 passenger cars, up 11%; 5,318 commercial vehicles, down 16%; and 148 special-use vehicles, up 21% month-on-month.

In terms of vehicle origin, the sales of domestically-assembled automobiles reached 13,575 units, down 12%, while the number of imported completely built-up (CBU) ones was 11,112, up 34%.

In the first seven months of this year, VAMA members sold a total of 162,014 vehicles of all kinds, down 30% annually, with the sales of passenger cars, commercial and special-use vehicles dropping by 34%, 13%, and 63%, respectively.

According to experts, besides 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) announced its sales of 4,035 units in July, bringing its six-month sales to 14,680 units; while the respective figures for VinFast were 3,042 and 14,680.

Based on the sales reports from VAMA, TC Group and VinFast, Hyundai continued to lead the market in July with 4,035 vehicles, despite a month-on-month decrease of 21%. It was followed by Toyota, KIA, Mitsubishi and Ford. 

The Vietnamese auto market is forecast to continue growing from August until the end of this year, thanks to the policy of reducing registration fee by half. However, purchasing power might not experience the same rapid growth as last year due to the influence of the stock, real estate and consumer lending markets which are yet to fully recover as it did last year.