Auto sales skid during June

Domestic auto sales reached around 7,600 units in June, dropping by 25 per cent compared to the same month last year, according to the Vietnam Automobile Manufacturers’ Association (VAMA).

Sport-utility, multi-purpose and crossover vehicles (SUV/MPV/Cross-over) suffered the strongest declines in sales with only 1,390 units sold, a slump of 40 per cent, while commercial vehicle sales reached only 3,350 units, falling by 32 per cent and passenger car sales, only 2,870 units, a year-on-year decrease of 1 per cent.

The drop in auto sales have been largely blamed on common economic instabiltiy.

“Apart from the auto industry, sectors such as stock and property markets have also encountered various economic challenges,” a representative from the VAMA told reporters.

According to a VAMA report, the Truong Hai Auto Corporation (THACO) dominated June sales with 2,481 units bought up, a year-on-year soar of 23 per cent.

THAC was followed by Toyota with 1,918 units sold, a decrease of 34 per cent compared to the same month last year.

The total amount of auto sales during the first half of this year reached 52,588 units, an increase of 4 per cent in comparison with the same period in 2010. SUV/MPV/Cross-over sales increased by 4 per cent and passenger car sales by 25.5 per cent while commercial car sales decreased by 9 per cent with only 23,650 units sold. – VIR

Tags: Vietnam automotive, Vietnam automotive industry, Vietnam autos market, Vietnam car sales

Posted by VBN on Jul 13 2011. Filed under Automotive. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry