Vietnamese auto market goes sideways in second consecutive month
November was the second consecutive month that the auto market went sideways, reported the Vietnam Automobile Manufacturers’ Association (VAMA) on December 12.
Hanoi (VNA) – November was the secondconsecutive monththat the auto market went sideways, reported the Vietnam AutomobileManufacturers’ Association (VAMA) on December 12.
Duringthe month, 27,953 vehicles were sold, nearly the same as the previous month andmarking a 23% decrease year on year.
Ofthem, there were 22,451 passenger cars, showing a 14% increase; 5,318commercial vehicles, down 5% and 184 special-use vehicles, up 30% month onmonth.
While the sales of domestically assembled vehicles reached18,092 units, that of imported completely built-up achieved 9,861; bothincreasing by 10% compared to the previous month.
As of the late November, VAMA'smember units sold 263,249 vehicles of all kinds, down 29% annually, with thesales of passenger cars, commercial and special-use vehicles down 31%, 16% and 57%,respectively.
Besides VAMA member units, the Vietnameseauto market also includes other automakers such as Audi, Jaguar Land Rover,Mercedes-Benz, Nissan, Subaru, Volkswagen, and Volvo, but they do not disclosebusiness results.
Meanwhile, the Thanh Cong Group (TC Group)announced its sales of 7,980 units in November, and 56,606 in the Jan –November period.
⛎ Based on the sales reports from VAMA and TC Group,35,933 units were sold in November, lifting the total sales in the first 11months to 319,855./.
With one week until the Lunar New Year Festival (Tet), which falls on February 1 this year, it is the 'hottest' time of the year for the domestic auto market.
Vietnamese firms spent over 903 million USD in the first quarter importing 41,780 completely-built-up (CBU) cars, according to a report by the General Statistics Office (GSO).
Members of the Vietnam Automobile Manufacturers Association (VAMA) sold 22,540 vehicles in August, down 9% compared to the previous month, VAMA has reported.
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Illustrative image (Photo: VNA) 
