Significant increase against last January but slight decline against December.
Total sales of automobiles in the first month of the new year remained high, at 19,979 units, which was a 1 per cent decline compared to December but 80 per cent higher than in January 2014. The number of motor cars sold stood at 13,679 units, up 3 per cent compared to the previous month, while truck sales reached 6,300 units, a 10 per cent decline.
January also saw major growth in completely-knocked-down (CKD - locally assembled vehicles) and completely-built-up (CBU - fully imported vehicles). The CKD volume totaled 13,487 units, an increase of 69 per cent year-on-year, according to a sales report from the Vietnam Automobile Manufacturers Association (VAMA). Meanwhile, the CBU volume reached 6,492 units, a 110 percent increase year-on-year. Compared to December, however, CKD rose just 0.3 per cent and CBU fell 4 per cent.
While the figures may indicate that Vietnam’s automobile market grew stably in January it should be remember that it’s the lead up to the Lunar New Year (Tet), which always sees a high increase in motor vehicle purchases. So while the growth against last January is a positive, the decline against December may concern industry players.
It is expected that sales in February and March will fall slightly compared to January. But it seems almost certain that sales in the two months will see high growth year-on-year.
|VAMA Member Sales|
|January 2014||December 2014||January 2015|
|Comparison of sales between periods|
|Jan 15 vs. Jan 14||Jan 15 vs. Dec 15|
|SUV/MPV/Cross-over||+ 34%||+ 4 %|
|Passenger Cars||+ 73%||+ 4 %|
|Commercial Vehicles||+ 144%||- 11%|
|Total||+ 80 %||- 2%|