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Vehicle sales soaring

Released at: 15:28, 07/11/2015

Vehicle sales soaring

2015 continues to be a great year for sales by VAMA members compared to 2014.

by Thu Hoang - Son Ho

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.

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