Car Sales

Domestic travel resumed in a number of provinces/cities as a result of the country’s effective Covid-19 containment is a major boost for sales figure.

The number of imported cars in March are nearly the combined figure in the first two months of the year.

The sale figure in February, however, was on the decline for two consecutive months with a contraction of 22% against the previous month to 13,585 units.

Real estate sales will be another key driver of credit growth, as apartment supply and sales are likely to pick up in 2021.

Car sales in Vietnam in 2020 dropped 8% year-on-year to 296,634 units across all segments.

Car sales in Vietnam in the January–November period dropped 14% year-on-year to 246,768 units across all segments.

Car sales in Vietnam in the January–October period dropped 18% year-on-year to 212,409 units across all segments.

Car sales in Vietnam in the January–September period dropped 22% year-on-year to 179,155 units across all segments.

The figure marked the first decline in car sales in four months, following month-on-month increases of 0.3% in July, 26.4% in June and 103% in May.

Car sales number in Vietnam in the first seven months of this year dropped 28% year-on-year to 131,248 units across all segments.