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Monday, June 17, 2024

Vietnam’s auto sales down 17% in Q1

The Saigon Times

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HCMC – Vietnam’s auto sales in the first quarter of 2024 plummeted by 17% year-on-year, according to the Vietnam Automobile Manufacturers’ Association (VAMA).

Data released by VAMA showed total auto sales in the year to the end of March reached 58,165 units.

Sales of passenger cars experienced a notable 21% decrease, commercial vehicle sales dipped by 6%, and special-use vehicle sales plummeted by a staggering 48% compared to 2023.

March alone saw a 135% surge in sales versus February, to 27,289 units. However, this figure still represented a decrease of 9% over the year-ago period.

Of total sales in March, 19,014 passenger cars, 8,047 commercial vehicles and 228 special-use vehicles found buyers, up by 135%, 131% and 307%, respectively.

Sales of locally assembled autos edged down by 117% to 14,474 units, while imported completely built-up (CBU) vehicles experienced a 158% surge, with 12,815 units sold versus last month.

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