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Vehicle sales soar in March

Released at: 16:39, 11/04/2016

Vehicle sales soar in March

Sales by VAMA members increase 112 per cent against February.

by Hoai An

Sales of motor vehicle by members of the Vietnam Automobile Manufacturers’ Association (VAMA) in March totaled 24,802, up 112 per cent month-on-month and 51 per cent year-on-year.

Passenger car sales stood at 13,246 in the month, an increase of 105 per cent against February. Commercial vehicle sales reached 9,206, while 2,350 special-purpose vehicles were sold, up 100 per cent and 249 per cent, respectively.

The number of imported completely-built-up (CBU) vehicles in March totaled 4,807, up 94 per cent against February, while 19,995 completely-knocked-down (CKD) vehicles were sold, 116 per cent more than in February.

Thaco retained its leading position in sales in March, selling 10,366 units for a market share of 44.7 per cent. It sold 5,139 trucks, for an increase of 230 per cent against February and 67 per cent compared to March 2015.

Toyota followed, with 4,693 units and a 20.2 per cent market share, while Ford was in third position with a 9.6 per cent market share after selling 2,392 units.

The remarkable increase in automobile sales in March contributed significantly to a positive first quarter result. Total sold were 56,264 in the first three months, up 23 per cent year-on-year. Passenger cars increased 6 per cent; commercial vehicles 55 per cent; and special-purpose vehicles 57 per cent.

Together with higher sales in March, adjustments to excise tax rates on imported cars are predicted to have a positive impact on the market. The rate on imported CBU motor cars of up to nine seats and a cylinder capacity of up to 1,500 cu cm will be reduced from the existing 45 per cent to 40 per cent from July 1, 2016 and then to 35 per cent from January 1, 2018.

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