Vietnam’s auto sales reach 20-year record

Illustrative image (Source: VNA)

Hanoi (VNA) – The total number of automobiles sold in 2016 reached 304,427 units, the highest level recorded by Vietnam’s auto market in the past 20 years, the Vietnam Automobiles Manufacturers Association (VAMA) announced on January 11.

The figure is much higher than the previous records of 244,914 units in 2015 and 160,000 vehicles in 2009.

According to VAMA, in December alone, the sales of automobiles in the domestic market were 33,925 units, up 17 percent from November. Of which 23,565 vehicles were assembled locally and 9,730 were imported.

The sales of locally-assembled vehicles upped 32 percent in 2016, while the sales of imported ones increased by 5 percent.

The Truong Hai Auto Corporation (Thaco) accounted for the largest market share of 41.5 percent with 112,847 vehicles sold in 2016.

Japan’s Toyota sold 57,036 units, making up 21 percent of the market share, while Ford Vietnam’s sales were 29,011, equivalent to 10.7 percent of the market share.-VNA