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Thursday, July 25, 2024

January auto sales dip by 34%

By Le Hoang

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HCMC – Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold over 30,740 autos in January, down 34% month-on-month.

Specifically, sales of passenger cars dipped by 31% month-on-month at nearly 25,280, while commercial vehicles saw a drop of 44% in sales and special-use vehicles plunged by 53%, according to a VAMA report out on February 15.

The sales of both locally assembled and imported completely built-up (CBU) cars saw a month-on-month slump in the first month of the year. A mere 17,780 locally assembled autos were sold last month, down 31% month-on-month, despite the 50% cut in the registration fee for these cars, while the consumption of imported CBU cars totaled 12,960, down 38%.

However, the January auto sales improved by 16% against the figure seen during the same period last year. The sales of passenger cars in January rose by 24% year-on-year.

The local auto market saw a year-on-year increase in the sales of both locally assembled and imported cars at 23% and 8%, respectively.

Apart from the VAMA members, non-member makers, TC Motor and VinFast, sold over 7,420 and 2,100 cars, respectively, in January.

Other non-member brands such as Audi, Jaguar Land Rover, Mercedes-Benz, Nissan, Subaru, Volkswagen and Volvo have yet to publicize their sales.

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