Hyundai leads in automobile sales in Vietnam last year

Hyundai leads in automobile sales in Vietnam last year - Illustrative image (Photo: topgear.com)

Hanoi (VNA) - Sales by members of the Vietnam Automobile Manufacturers’ Association (VAMA) fell 8 percent last year, to 296,634 units.

In December alone, 47,865 units were sold, up 31.6 percent month-on-month. Of these, 36,856 were passenger cars, up 28 percent; 10,673 were commercial vehicles, up 50 percent; and 336 were special-use vehicles, down 30 percent.

Sales of domestically-assembled vehicles stood at 29,382, up 25 percent, while 18,483 were imported cars, a month-on-month increase of 44 percent.

Analysts said the figures do not reflect overall consumption in the domestic automobile market as they exclude sales by manufacturers that are VAMA members, such as Audi, Jaguar, Land Rover, Mercedes-Benz, Subaru, Volkswagen, and Volvo.

The combined sales of TC Motor and VinFast, which are not VAMA members, reached 110,853 units during the year. Combining the figures of VAMA, TC Motor and VinFast, 407,487 units were sold on the domestic market last year.

With 81,368 units sold, Hyundai from the Republic of Korea was the best-selling brand in Vietnam in 2020, followed by Toyota with 70,692, Kia 39,180, Mazda 32,224, VinFast 29,485, Mitsubishi 28,954, Ford 24,663, and Honda 24,418.

Analyst Nguyen Tuan from the Thien Phuc An company said many carmakers may extend their policy of cutting registration fees by 50 percent to maintain sales./.