Increase in small cars, MPVs sales in August

The Vietnam Automobile Manufacturers’ Association (VAMA) reported a year-on-year rise of 10 percent in automobile sales with over 9,500 cars sold by VAMA’s members in August, mostly in small and multi-purpose vehicles.
There was a drop of 24 percent in commercial vehicles compared to the same period last year, with 3,164 cars sold in August. Meanwhile, a high demand in sport utility and multi-purpose vehicles (SUV/MPV) prompted a total auto sales growth of 10 percent.

Specifically, VAMA’s members had August sales of over 4,200 and 2,153 units, rising by 867 and 563 from July, for popular and SUV/MPV vehicles respectively, up 54 percent and 21 percent year-on-year.

Most car makers reported high revenues in August. Toyota Motor Vietnam’s sales in August, for example, rose by 28 percent against the same period last year, which was its highest figure in the first eight months of the year.

Meanwhile, GM Vietnam increased sales by 915 units and 26 percent respectively.

Similarly, Ford Vietnam also reported 32 percent of growth in sales with 772 units sold, accounting for 7.3 percent of the local auto market share, as a result of high sales of its brand new model Fiesta after three months of presence on the local market.

The government’s Decree 45/2011 on increasing vehicle registration fees from 10-15 percent to 10-20 percent, coming into effect on September 1, and the rising demand led to high sales in August, local car dealers explained.

Meanwhile, a drop in sales of commercial cars, normally bought by enterprises, was caused by current difficulties and high interest rates at banks. However, this kind of vehicles still got the highest sales in the first eight months with 30,400 units.

VAMA’s members sold 70,650 units in the January-August period, up 2 percent year-on-year. The highest rise of nearly 29 percent was in popular vehicles with 25,300 units while the corresponding figures for SUV/MPV cars were 4 percent and 14,900.

* Vietnam Motor Show 2011, the largest show of its type to be held in the country, will take place in HCM City from November 16 to 20 at Saigon Exhibition and Convention Centre (SECC) at 799 Nguyen Van Linh Parkway in District 7.

This year’s show, to be held by Vietnam Automobile Manufacturers’ Association (Vama) in coordination with Asia Trade Fair and Business Promotion, will be joined by many Vama members, including Toyota, Honda, Ford, Mercedes-Benz, Isuzu, GM, Mitsubishi, Sanyang, Truong Hai, Suzuki, and Vinaxuki.

The show draws the participation of more than 100 enterprises at home and abroad in various sectors such as accessories, spare parts, interior decoration, banking, and insurance, according to the organisers, who expect the show to attract more than 120,000 visitors.
Saigon Times Daily

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