Over 112,000 cars sold in 2010 by VAMA members

The latest report of the Vietnam Automobile Manufacturers Association (VAMA), the dominant automobile assembler in the market, shows that more than 112,000 cars sold by VAMA members in 2010, less than the results of 2009.

According to automobile manufacturers and assemblers, December is always a peak business month of the year, since many individuals and families wish to purchase cars for travelling during the long end of the year holiday. Nevertheless, the sales of VAMA members in the last month of 2010 fell by 17 percent compared to the same period of 2009, reaching just nearly 12,500 units.

Of that, sales of sedan cars fell the most, by 21 percent, sales of multi-purpose vehicles fell by 19 percent and sales of commercial vehicles fell the least, by 13 percent over the same period of 2009.

The business results in December 2010 of VAMA members have made the entire market in 2010 to reduce by six percent compared to 2009.

Most VAMA members reported decline of sales. Even Ford Vietnam, which has announced December 2010 was the best sales month of the year, in general, this US company only sold over 6,370 cars, down by 22 percent compared to 2009.

GM Daewoo sold nearly 9,700 cars in 2010, still 32 percent less than 2009. Similar to GM Daewoo, VinaStar (Mitsubishi) sold just nearly 2,500 cars in 2010, while Honda Vietnam sold over 3,100 cars, down by 26 percent.

However, Toyota Vietnam, leader of the market in 2010, had growth rate of three percent compared to 2009, reaching 31,100 cars, accounting for 27.7 percent of total sales of VAMA.
Truong Hai followed with over 26,000 cars sold, up by 20 percent of the same period of 2009, accounting for 23.2 percent of the total sales of VAMA.

Assessing the market in 2011, most car assemblers in the country said the situation would continue to be difficult, since import tax has begun to fall in Asean region, the economic situation remains difficult, US dollar exchange rate remains high against dong, and lending rates of banks are still very high. – TBKTSG

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

Posted by VBN on Jan 12 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