There were more than 32,300 completely built unit (CBU) cars being sold in March across the country, of which more than 22,500 units were passenger cars, accounting for 70 percent. Among 11 members of VAMA, the number of domestically-assembled cars was nearly 19,800 units, an increase of more than 157 percent over the previous month. Meanwhile, the number of CBU cars was 12,530 units, an increase of more than 164 percent over the previous month. Since the beginning of this year, more than 56,600 passenger cars have been sold, up more than 43 percent compared to the same period last year. According to VAMA, although domestically-assembled cars held a majority in total car consumption with 60 percent, it still saw a decline in comparison with last year with more than 46,253 units, a decrease of 3,700 units. Meanwhile, the number of imported cars being sold was three times higher than that in the same period last year. Particularly, nearly 32,000 imported cars were sold by the end of … [Read more...] about Automobile market sees strong growth in March
VietNamNet Bridge - With the predicted recovery of car imports, the Vietnamese automobile market in 2019 is expected to heat up. The market experienced two periods in 2018: it was gloomy in the first half of the year because of strict regulations in Decree 116, and brighter in the second half, when problems could be fixed. The bustling market is expected to continue in 2019. Vietnam imported 11,000 cars in September, 12,400 in October and 12,300 in November. The the total number of cars imported in the three months reached 35,700, higher than the total number of cars imported in the eight months before. The sales of domestically assembled cars also depended on policies. Domestic automobile joint ventures saw their sales soar in the first half of 2018 because of the absence of imports. Meanwhile, in the second half of the year, once more imports arrived, the sales gap between domestically made and imported cars narrowed. RELATED NEWS The highlights of the automobile … [Read more...] about What will the automobile market be like in 2019?
Speaking in an exclusive interview with Vietnam Economic Times, Mr Dung said the nation’s automobile market in 2018 witnessed positive signs in spite of a number of challenges and difficulties. Although during the second and third quarters of 2018 the supply source of imported cars was interrupted, it rebounded in September. With a number of milestones recorded during the fourth quarter of 2018, the Vietnamese automobile market is set to develop further in 2019 and in the years ahead. He emphasized that the demand for automobiles among the domestic market has gained traction in recent years. Additionally, the rate of car ownership currently stands at 20 cars per 1,000 users while this rate is about 80 cars in Thailand and between 200 and 400 cars in other developed nations. These figures are encouraging for the potential development of the automobile industry, which is predicted to enjoy strong growth in 2019 and beyond. The Ford Vietnam managing director added that … [Read more...] about Automobile market set for major breakthroughs in 2019
The total number of imported cars in the whole country merely reached 12,380 cars in the first six months of last year, a sharp decline of 75.7 percent in volume and 68.3 percent in value compared to the same period of 2017. However, after Decree 116/2017/ND-CP to specify the regulatory conditions and licenses for automobile manufacturing, assembling, importing and maintenance and warranty services took effect, the number of imported cars had strongly rebounded in the last months of 2018. Domestically-assembled cars still kept good growth by the end of 2018. However, at this time when it was about three weeks ahead of Tet holidays, whoever wanted to buy car had to wait a very long time before receiving their cars. If anyone wants to receive their cars before Tet, they have to pay an extra amount of money of up to hundreds million of Vietnamese dong. According to car salesmen, most cars are currently sold with “accessory”. These “accessory” packages vary from … [Read more...] about Scarcity hits Vietnam automobile market ahead of Tet holidays
Illustrative image (Source: presstv.com) Hanoi (VNA) – Despite difficulties in the first half of 2018, the domestic automobile market saw impressive growth compared to the previous year with nearly 290,000 vehicles sold during the year, an annual rise of 5.8 percent. According to the Vietnam Automobile Manufacturers’ Association (VAMA), sales of passenger cars grew 27.7 percent, while those of commercial and special-use vehicles dropped 19.2 percent and 48.5 percent, respectively. The association noted that in the last four months of 2018, automobile sales expanded strongly. More than 25,000 vehicles were sold in September, 29,040 in October and 30,902 in November and 34,234 in December, with the latter figure the highest level for a month in two years. Imports were greatly impacted by a decree which tightened regulations on cars shipped to Vietnam, allowing domestically-produced and assembled automobiles to drive the market’s growth. By the end of 2018, sales of … [Read more...] about Automobile market expands strongly in 2018