Vietnamplus

The domestic auto market is expected to grow further in the remaining months of this year after expanding up to 120 percent in October, experts have said.

Vietnam Motor Show 2021, the largest annual automobile and motorbike expo in the country, has been cancelled due to COVID-19 pandemic impacts, the organising board announced on October 13.

Car sales in Vietnam increased by 52 percent in September after five consecutive months of decline, showing positive signs for the car market in the year-end months.

With only 8,884 vehicles sold in August, the automobile market of Vietnam recorded the lowest sales in six months.

Vietnam’s imports of completely built-up (CBU) vehicles in the first seven months of 2021 posted a year-on-year surge of 111.2 percent in volume despite the complexities of COVID-19.

Automobile sales in Vietnam plunged in July due to the complications of COVID-19 and social distancing measures being applied in many localities nationwide.

Many Vietnamese rubber companies have reported positive second-quarter profits despite the rising price of materials needed to produce the popular commodity.

Despite the impact of the COVID-19 pandemic, Vietnamese auto-maker VinFast Trading and Production LLC still enjoyed a month-on-month increase of 5 percent in sales in May, to 2,855 vehicles.

The Vietnam Automobile Manufacturers’ Association (VAMA) has reported that its members posted a 15 percent month-on-month decline in automobile sales in May to 25,585 units, due to the impact of COVID-19 and a shortage of semi-conductor chips for the industry.

The Ministry of Finance has rejected the Vietnam Automobile Manufacturers’ Association (VAMA) proposal to continue reducing the registration fees for new domestically-produced cars by 50 percent.

More than 1.1 billion USD was spent on importing 49,360 completely built-up (CBU) vehicles in the four months of 2021 in Vietnam, a surge of 55.2 percent in volume and 57.2 percent in value over the same period last year, the General Statistics Office (GSO) has reported.

The Vietnam Automobile Manufacturers’ Association (VAMA) announced on April 13 that its members sold a total of 70,952 vehicles in the first quarter of 2021, a year-on-year surge of 36 percent.

The Vietnam Automobile Manufacturers' Association (VAMA) announced on April 12 that its five members sold 701,454 units in the first quarter, down 4.05 percent year-on-year.

The import of automobiles increased dramatically in March, according to figures released by the General Department of Customs (GDC).

The Mitsubishi Motors Vietnam Co. Ltd (MMV) on January 18 began recalling 9,066 units of Xpander and Outlander models to replace fuel pumps.

Car imports in November dropped 10.4 percent month on month to 12,237 units, according to initial statistics of the General Department of Vietnam Customs.

Sales of automobiles by members of the Vietnam Automobile Manufacturers’ Association (VAMA) in October surged 22 percent against the previous month to reach 33,254 units, indicating consumption is recovering to pre-pandemic levels.

Customers have scrambled to buy automobiles before the end of 2020 to enjoy the 50 percent reduction in registration fees, making the auto market more robust as compared to the situation at the outset of the year.

Sales of automobiles in September increased 32 percent against the previous month to reach 27,252 units, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on October 10.

Automobile sales in August were down 14 percent against July, to 20,655 units, despite the introduction of a range of promotional programmes, according to the Vietnam Automobile Manufacturers’ Association (VAMA).