Nov 15, 2018 / 11:03

Car sales in Vietnam soar 15% m/m in October

Total sale of car units of members of Vietnam Automobile Manufacturers’ Association (VAMA) in the first ten months of 2018 stood at 223 326 units, up 1% year-on-year.

Car sales in October are reported at 28,899 units, up 15% month-on-month and 32% against the same period of last year, according to a monthly report by VAMA.
Illustrative photo.
Illustrative photo.
Upon breaking downs, 21,288 sold  units were passenger cars, up 25% month-on-month; 7,096 commercial vehicles, down 7%; and 515 special-purpose vehicles, up 31%. 

Sales of domestically assembled cars reached 17,599 units in October, up 2% compared to last month, while imported completely-built-units (CBUs) were 11,300 units, up 46%. 

Cars bought from Thailand and Indonesia accounted for 75% of total cars imported to Vietnam last month, reaching 8,605 units or 45% from Thailand, and 4,296 units or 30% from Indonesia. Vietnam also imported cars from others markets such as China, Japan, the US, Germany, among others, according to the General Department of Vietnam Customs (GDVC). 

Total sales units of VAMA's members in the first ten months of 2018 stood at 223,326 units, up 1% year-on-year, of which, passenger cars up 13% year-on-year, commercial cars down 19% and special-purpose cars down 44%, according to VAMA. 

By the end of October, sales number of domestically assembled cars went up 11% to 174,660, while the imported number declined by 22% compared to the same period of last year to 48,756.

In October, Vietnam’s leading automaker Truong Hai Auto Corporation (THACO) witnessed its market share decrease by 0.1 percentage points to 29.2%, losing its top spot among VAMA’s members in terms of market share and sales revenue to Japanese Toyota, which gained a 30% market share. 

Others car importers also reported improvements in sales number in October, including Honda by selling 3,475 units with market share of 12.4%, Mitsubishi 1,265 units or 4.5%.