Vietnam records car sales recovery in July

Hanoi (VNA) – Car sales in Vietnam rebounded in July after experiencing a monthly drop in June, according to Vietnam Automobile Manufacturers’ Association (VAMA).

The sales in the domestic market jumped 15 percent from the previous month and 38 percent from a year earlier to 28,004 vehicles.

The volume of passenger cars sold in July hiked 36 percent month on month while the sales of commercial and special-purpose vehicles declined by 10 percent and 2 percent respectively.

Nearly 163,870 cars were sold in the first seven months of 2016, a year-on-year rise of 32 percent. Special-purpose vehicles saw the fastest sales growth (49 percent), followed by commercial cars (36 percent) and passenger cars (28 percent).

While the sales of domestically assembled cars expanded by 35 percent, that of imported ones grew 24 percent in the seven months compared to the same period last year.

Among the VAMA members, Truong Hai Automobile Co. Ltd continued to take the lead with 5,170 vehicles sold in July, accounting for 42.1 percent of the market share.

Toyota Vietnam gained 21.5 percent of the market share with 5,170 cars sold, ranking second. Ford Vietnam was in the third place with 2,704 vehicles sold and a 11.2-percent market share.-VNA