Car sales in Vietnam up 12% y/y in 2019
The Hanoitimes - The year of 2019 was a difficult period for Vietnam’s auto market, but also marked positive performances of most local car producers.
Vietnam’s car market grew at a moderate pace in 2019, with 322,322 units sold, up 12% against last year, according to a report by the Vietnam Automobile Manufacturers Association (VAMA).
Taking into account the number of car sales from non-VAMA members, a total of 399,890 units were sold in 2019, the record figure number of Vietnam’s car market to date.
|Number of car sales in 2019. Source: VAMA.|
Upon breaking down, 237,221 were passenger cars, up 20% year-on-year; while 79,911 were commercial vehicles, down 5.6%; and 5,190 special-purpose vehicles, down 27%.
Sales of domestically assembled cars reached 189,450 units in 2019, down 12% year-on-year, while 132,872 imported completely-built-units (CBUs) were sold in the period, jumping 82%.
In December, car sales reached 33,159 units up 11% month-on-month and down 3% against December 2018, including 24,823 passenger cars, up 11% month-on-month; 7,959 commercial cars, up 10.5%; and 377 special-purpose vehicles, up 14%.
|Sales of imported cars up 82% year-on-year. Source: VAMA.|
The sales volume of locally assembled cars in December was reported at 19,700 units, up 19% month-on-month, and 13,459 imported cars were sold, up 1.6%.
VAMA suggested 2019 was a difficult year for Vietnam’s auto market, but also marked positive performances of most local car producers.
In 2019, Ford Vietnam reported sales volume of 32,175, up 31% year-on-year, in which the number in December was 3,095, up 17% month-on-month.
TC Motor recorded an impressive figure with 79,568 units sold, up 28% year-on-year. Another major player in the market, Toyota Vietnam, also kept up with others with a sales volume of 79,326 unit.
- Slow extension of FiT scheme hurts investor appetite in Vietnam wind power: GWEC
- Denmark, World Bank nurture Vietnam’s fledgling offshore wind energy
- Vietnam aims to have locally-made cars: Deputy PM
- How significant is Vietnam-US oil and gas cooperation?
- Samsung committed to supporting Vietnam enterprises joining global value chains
- 5 factors making ABA the most prestigious event for ASEAN enterprises
- Record high foreign reserves demonstrates Vietnam economic resilience: WB
- Climate change interrupts operations of half of Vietnamese enterprises
- Electricity demand in Vietnam forecast to grow by 9% from 2021 onwards: Fitch
- Underdeveloped technological base holds back Vietnam’s development: Minister
UN and SOVICO help develop Hanoi into creative city
EVFTA to help realize Vietnam's high-income status ambition: Expert
First international flight to Vietnam is from South Korea
Slow extension of FiT scheme hurts investor appetite in Vietnam wind power: GWEC
Apple partner Pegatron mulls US$1-billion investment in hi-tech projects in Vietnam
Hanoi’s weekend pedestrian streets allowed to reopen from September 18
European investors propose US$1 billion logistics project in Vietnam
Vietnam says ASEAN doesn’t want to get trapped between competition of major powers
Vietnam launches advisory message to prevent Covid-19 spread