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Ho Chi Minh City
Friday, August 19, 2022

June auto sales tumble

By Hung Le

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HCMC – Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold 25,160 units in June, down 42% month-on-month, as locally assembled and made cars are no longer entitled to the 50% registration fee cut.

The auto sales plunge was also attributed to a shortage of auto parts due to pandemic-induced supply chain disruptions, according to a VAMA report released on July 13.

Over 17,820 passenger cars were sold in June, while 6,820 commercial vehicles and 512 special-use vehicles found buyers, down 49%, 14% and 24% month-on-month, respectively.

VAMA members sold a mere 11,040 locally assembled vehicles, plummeting by 57% month-on-month, while the sales of imported completely built-up (CBU) cars saw a month-on-month decrease of 23%.

Many CBU auto traders said their car imports had tumbled as global automakers failed to meet the demand due to semiconductor chip shortages.

A representative of an auto showroom in HCMC predicted that the local auto market will undergo a challenging period in auto sales for the rest of the year.

In the first half of the year, VAMA members sold 201,840 cars, up 34% year-on-year. The sales of passenger cars doubled those of the same period last year at over 158,000 units. Over 3,400 special-use vehicles were sold, up 12% year-on-year, while commercial vehicles saw a slight decline of 5% in sales at 40,500 during the six-month period.

Between January and June, Vietnam imported over 63,730 CBU cars worth some US$1.6 billion, down 21.4% in volume and 14.4% in value year-on-year, according to data of the General Department of Vietnam Customs.

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