Vehicle sales soaring

Posted on November 10, 2015 by

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10-11-2015 (VET) — Motor vehicle sales stood at 22,368 units in October, an increase of 5 per cent against September and 50 per cent higher than in October last year, according to a recent report from the Vietnam Automobile Manufacturers’ Association (VAMA).

Passenger cars saw sales of 13,109 units, 2.5 per cent higher than in September. Year-to-date sales totaled 107,986 units, 40 per cent higher year-on-year. The number of commercial vehicles sold in the month stood at 8,213, up 8.2 per cent against September. Sales of commercial vehicles in the first ten months were 68,157 units, up 71 per cent year-on-year. Special purpose vehicles saw an increase of 6.4 per cent against September, with 1,046 units sold. Sales in the first ten months reached 9,668, a substantial 109 per cent increase compared to the same period of 2014.

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The number of imported completely-built-up (CBU) vehicles in October totaled 11,000 units worth $203 million, according to a report from the General Statistics Office (GSO).

In the first ten months of 2015 imported CBU vehicles reached 95,000 units, worth $2.31 billion, an increase of 180 per cent in number and 200 per cent in value compared with the same period last year. The value of CBU import cars into Vietnam in the first ten months of this year was up by 1.6 times compared with all of 2014 ($1.57 billion) and three times against all of 2013 ($709 million).

Imported CBU motor vehicles ($)
Number (units) Value ($)
July 2015 10,000 208,000,000
August 2015 11,000 201,000,000
September 2015 9,000 196,000,000
October 2015 (estimate) 11,000 203,000,000
2015 (estimate) 95,000 2,312,000,000
Source: GSO

In the last 12 months Thaco has continued to dominate the market, primarily due to its wide range of motor vehicles. An increase of 6.5 per cent in the share held by VAMA members suggests its potential for growth remains but the many trade agreements signed recently, which favor foreign brands, makes it uncertain whether the company will indeed continue to increase its share.

Famous names like Toyota and Ford maintained their place at the top, but Toyota saw a 8.3 per cent fall in the market share held by VAMA members.

VAMA member sales, October 2015 and October 2014

October 2015

October 2014

Units

Share (per cent)

Units

Share

Mekong (Fiat, Ssangyong, PMC)

38

0.2

21

0.2

GM Vietnam

794

4.1

363

2.7

VinaStar (Mitsubishi)

338

1.8

138

1

Mercedes-Benz Vietnam

450

2.3

270

2

Visuco (Suzuki)

503

2.6

424

3.2

Toyota

4,372

22.8

4,125

31.1

Lexus

45

0.2

45

0.3

Isuzu*

721

3.8

471

3.5

Ford

2,139

11.2

1,538

11.5

Hino*

541

2.8

339

2.5

SAMCO

124

0.6

121

0.9

Thaco

7,282

38

4,201

31.5

Honda

833

4.3

486

3.6

Vinamotor*

230

1.2

353

2.6

VEAM

430

2.2

247

1.9

TCIEV

120

0.6

132

1

Dothanh

221

1.2

0

SANYANG

0

30

0.2

Total

19,181

100

13,324

100

*: not including bus chassis

In October some 5,200 cars were newly registered in Ho Chi Minh City and more than 41,700 have been registered since the beginning of the year. An average of 139 motor vehicles join Ho Chi Minh City’s traffic every day, an increase of 39 per cent compared to last year, according to figures from the Ho Chi Minh City Department of Transport.

According to industry insiders, growth in personal vehicle numbers will increase traffic congestion in major cities, especially Ho Chi Minh City, given the poor transport infrastructure. In order to limit the number of personal vehicles in Ho Chi Minh City and boost budget revenue, the City increased fees for registrations and number plates on September 1. Vehicles of less-than-ten seats not used in the transport business are subject to fees of VND11 million ($490), up from the previous VND2 million ($90).

Thu Hoang – Son Ho

Posted in: Vietnam Economy