15:36 (GMT +7) - Monday 05/12/2016

Business

Automobile market thrived in March

Released at: 15:19, 14/04/2015

Automobile market thrived in March

The latest report from the Vietnam Automobile Manufacturers Association (VAMA) stated that the number of vehicles sold in March showed yet another increase.

by Son Ho

In the report, total automobiles sold in Vietnam in March were 16,399 units, an increase of 33 per cent compared to February and 44 per cent compared to the same period last year. Of which, the number of passenger cars hit 9,146 units, a 6 per cent growth, while the number of commercial vehicles sold was 6,983, a huge 104 per cent rise compared to the previous month.

The rise of purchasing power in Vietnam's automobile market over the past year can be clearly seen. These figures identify a clear expression of economic recovery, especially when looking at the growth rate of commercial vehicle purchases.

The automobile market in March also had a dramatic change in origin. The output of complete knock-down (CKD) automobiles reached 12,877 units, a 63 per cent growth compared to the previous month. Meanwhile, complete built up (CBU) automobiles were only 3,522 units, signalling a 20 per cent decrease. It is notable that in 2014, the growth rate of CBU automobiles was much higher than the growth rate of CKD automobiles. These figures show that manufacturing works in Vietnam are improving.

VAMA's report also said that total automobile sales in the first three months of 2015 reached 48,707 units, a 62 per cent increase year on year. Passenger cars and commercial vehicles accounted for 31,994 and 16,713 units respectively, marking growth of 60 per cent and 67 per cent.

As expected, purchasing power in the automobile market is back on track after a break in February due to Lunar New Year.

 

Sales of VAMA from January 2015 to March 2015:

 

 

March 2015

February 2015

January 2015

SUV/MPV/Cross-over

3,327

2,258

3,650

Passenger Cars

4,834

3,892

6,203

Comm. Vehicles

6,660

3,149

5,845

Other

1

0

0

Total (VAMA)

14,822

9299

15,698

Total (Market)

15,201

9,607

16,110

 

Comparison of the first three months of 2014 and 2015:

 

 

March 2015

March 2014

Growth rate

SUV/MPV/Cross-over

9,235

6,294

47%

Passenger Cars

14,929

8,463

76.4%

Comm. Vehicles

15,570

8,821

77%

Other

1

0

-

Total (Market)

40,834

24,177

69%

 

  • TAGS
  • VAMA
  • automobile

User comment (0)

Send comment