According to wholesale data released by the Vietnam Automobile Manufacturers Association (VAMA), new car sales in Vietnam increased by 8% year-on-year to 24,774 units in July this year, compared with 22,868 units in the same period last year.
However, the above data is the car sales of the 20 manufacturers that have joined VAMA, and does not include car sales of brands such as Mercedes-Benz, Hyundai, Tesla and Nissan, nor does it include local electric car manufacturers VinFast and Inc. Car sales of more Chinese brands.
If the sales of imported cars by VAMA non-member OEMs are included, total new car sales in Vietnam increased by 17.1% year-on-year to 28,920 units in July this year, of which CKD models sold 13,788 units and CBU models sold 15,132 units.
After 18 months of almost uninterrupted decline, Vietnam's auto market is beginning to recover from very depressed levels. Deep discounts from car dealers have helped boost sales, but overall demand for cars remains weak and inventories are high.
VAMA data shows that in the first seven months of this year, the total sales of automobile manufacturers joining VAMA in Vietnam were 140,422 vehicles, a year-on-year decrease of 3%, and 145,494 vehicles in the same period last year. Among them, passenger car sales fell 7% year-on-year to 102,293 units, while commercial vehicle sales increased nearly 6% year-on-year to 38,129 units.
Truong Hai (Thaco) Group, a local assembler and distributor of several overseas brands and commercial vehicles, reported that its sales fell 12% year-on-year to 44,237 units in the first seven months of this year. Among them, Kia Motors sales dropped 20% year-on-year to 16,686 units, Mazda Motors sales dropped 12% year-on-year to 15,182 units, while Thaco commercial vehicle sales increased slightly by 3% year-on-year to 9,752 units.
In the first seven months of this year, Toyota's sales in Vietnam were 28,816 units, a slight decrease of 5% year-on-year. Sales of Hilux pickup trucks have increased in recent months; Ford's sales have been slightly lower year-on-year with its popular Ranger, Everest and Transit models. Sales increased by 1% to 20,801 units; Mitsubishi Motors' sales increased by 13% year-on-year to 18,457 units; Honda's sales increased by 16% year-on-year to 12,887 units; however, Suzuki's sales dropped by 26% year-on-year to 6,736 units.
Another set of data released by local distributors in Vietnam showed that Hyundai Motor was the best-selling car brand in Vietnam in the first seven months of this year, with deliveries of 29,710 vehicles.
Vietnam's local automaker VinFast said that in the first half of this year, its global sales increased by 92% year-on-year to 21,747 vehicles. With the expansion in global markets such as Southeast Asia, the Middle East and the United States, the company expects its total global sales for the year to reach 8 Thousands of vehicles.
The Vietnamese government stated that in order to attract investment in the field of pure electric vehicles, the Vietnamese government will introduce a wider range of incentives, such as reducing import tariffs on parts and charging equipment, while exempting pure electric vehicle registration taxes by 2026, and in particular The consumption tax will remain between 1% and 3%.
Post time: Aug-17-2024