Vietnamplus

Car sales in November failed to meet expectations even though the year-end shopping season has started and despite various discounts of up to hundreds of millions of dong.

Vietnam’s automobile industry is small compared to regional markets and local suppliers are asking for more support from the Government.

Hopes of a big rise in car sales in October thanks to a steep drop in prices and the rollout of new models have been dashed, spreading more gloom about the sector’s health.

The 2019 Vietnam Motor Show opened in Ho Chi Minh City on October 23, showcasing the latest models and advanced technologies from 15 Vietnamese and foreign auto brands.

Vietnam needs to issue special policies for the automobile industry to catch up with other countries in the ASEAN region, said experts at a conference held in Hanoi on October 22.

The automobile market is expected to set a new record in sales this year with VAMA members and TC Motors selling an average nearly 32,000 cars each month in January-September.

Sales of automobiles saw a month-on-month decline of 19 percent to about 21,480 vehicles in August, according to the Vietnam Automobile Manufacturer Association (VAMA).

The Vietnam Motor Show 2019 (VMS 2019), to be held in Ho Chi Minh City from October 23 to 27, will be a get-together of 15 renowned automobile brands and hundreds of others in the automobile support industry, according to organisers.

The sale of domestically-assembled cars during January-July fell 14 percent year on year to some 107,000 units, while that of completely-built units (CBU) shot up 207 percent to over 73,900, the Vietnam Automobile Manufacturers’ Association (VAMA) said on August 12.

Car sales reached 281,473 units during the January-June period, a year-on-year rise of 21 percent, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on July 9.

The Vietnam Motor Show 2019 (VMS 2019), to be held at the Saigon Exhibition and Convention Centre from October 23-27, will be a chance for local consumers to see latest models from many renowned automobile brands and breakthrough technologies in the industry.

Vietnamese automobile manufacturers and distributors had a banner month in May as the sales of car experienced a strong monthly growth of 30 percent following a line-up of promotions and discount programmes.

The total automobile sales in the first five months of 2019 surged by 22 percent year-on-year to 126,646 units, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on June 11.

Despite huge reductions in the price of motor vehicles, car dealerships said sales have been unexpectedly slow in recent weeks.

The Vietnam Automobile Manufacturer Association (VAMA) reported on May 13 that its members sold 21,021 vehicles in April, a decrease of 35 percent against the previous month.

The Ministry of Finance has added environmentally-friendly cars to the list of vehicles with spareparts entitled to special preferential import tariffs.

Sales of imported automobiles recorded a year-on-year leap of 234 percent to about 32,000 vehicles in the first quarter of this year, announced the Vietnam Automobile Manufacturer Association (VAMA) on April 10.

Automobile sales in February declined 61 percent from the previous month, the sharpest month-on-month fall ever.

Vietnam imported nearly 11,700 cars worth more than 273 million USD in the first month of 2019, marking the fifth consecutive month with a volume of at least 10,000 units, according to statistics from the General Department of Vietnam Customs.

The 16th International Exhibition on Automobile, Transportation and Supporting Industries (Vietnam AutoExpo 2019) will take place at the Vietnam National Convention Centre in Hanoi from June 12-15.