Vietnam’s car market has been growing strongly in the first seven months of 2019, with 180,940 units sold during the period, up 22% against the same period of last year, according to a report by the Vietnam Automobile Manufacturers Association (VAMA).
Car sales volume in Vietnam as of July 2019. Source: VAMA.
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Sales of domestically assembled cars reached 107,006 units in the January – July period, down 14% year-on-year, while 73,934 imported completely-built-units (CBUs) were sold in the period, jumping 207%.
Sales volume of domestically assembled and imported cars in January - July period. Source: VAMA.
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The sales volume of locally assembled cars in July was reported at 15,275 units, down 5% month-on-month, and while 11,391 imported cars were sold, down 0.3%.
Among the stakeholders of the Vietnam’s car market in July, Truong Hai Auto Corporation held the lion's share with car sales of 7,785 units or 30.1% of the volume of VAMA members in the month, followed by Toyota with 7,530 units, or 29.2%, and TC Motor with 6,601 units.
In terms of car brands under VAMA, Ford and Honda are competing fiercely for the top spot. In July, Ford's car sales reached 2,785, accounting for 10.8% of VAMA’s, and those of Honda reached 2,840, or 11%, while 1,873 Mitsubishi cars were sold, making up 7.3%.
