Vehicle sales in September continued on the revival track taken since last May, on the back of multiple launches and improving consumer sentiment.
Vietnam 's 18 leading vehicle manufacturers sold a combined 16,149 units in September, representing a 29-percent month-on-month increase and a 65-percent year-on-year increase, according to the Vietnam Automobile Manufacturers Association (VAMA).
Of the figure, cars made up 10,511 units, representing a 30-percent month-on-month increase, and trucks made up 5,638 units, representing a 25-percent month-on-month increase.
"This is the 18th consecutive month that industry volume has been higher than that of the same period last year," VAMA chairman Jesus Metelo Arias said in a statement released on October 10.
"The total number of vehicle sales for 2014 is predicted to hit 145,000 units, a 32-percent year-on-year increase," Arias added.
Thaco, a domestic car manufacturer, retained its market leadership with sales of 4,195 units or 32 percent of market share in September. Japanese manufacturer Toyota came in second with sales of 3,747 units or 29 percent of market share, followed by US manufacturer Ford with sales of 1,390 units or 10.7 percent of market share.
Booming sales were attributed to attractive financing deals, price discounts, cuts in car registration fees and a brighter economic outlook.
According to the Ministry of Planning and Investment, Vietnam 's economic growth rate in 2014 was set at 5.8 percent and CPI growth at less than 7 percent.
Planning and Investment Minister Bui Quang Vinh said on October 9 that the country's gross domestic product growth could reach 5.8 percent or even higher this year.
The rise in vehicle sales last month was also attributed to the traditional peak in shopping towards the end of the year, usually beginning in mid-September.
In addition, a large number of vehicles that will become obsolete this year also helped trigger demand, as the Government stipulated that trucks more than 25 years old and cars more than 20 years old could no longer be used.
According to the Vietnam Register, a total of 3,388 cars, 13,033 trucks and 67 buses will be taken off the road this year.
Meanwhile, about 7,000 completely-built units (CBU) were imported in September this year, bringing 132 million USD in revenue, the General Statistics Office (GSO) reported.
The number of CBUs in September is about 1,000 units more than that in August, but revenue fell by 4 million USD.
The automobile market has been stable since last June, as the number of imported cars remained at 6,000 units and above per month, the highest in the last three years.-VNA
