Business

Vietnam’s automobile market grows 15% in H1

Members of the Vietnam Automobile Manufacturers Association (VAMA) sold 23,800 vehicles in June, up 15% from the previous month, VAMA announced on July 12.
Vietnam’s automobile market grows 15% in H1 ảnh 1Automobile sales of members of the Vietnam Automobile Manufacturers Association increase by 15% from the previous month. (Photo: VNA)

Hanoi (VNA) – Members of the Vietnam AutomobileManufacturers Association (VAMA) sold 23,800 vehicles in June, up 15% from theprevious month, VAMA announced on July 12.

Of the sold vehicles, there were 17,334 passenger cars,up 20%; 6,344 commercial vehicles, up 4%; and 122 special-use vehicles, a dropof 17% compared to the previous month.

In terms of vehicle origins, the sales ofdomestically-assembled automobiles reached 15,488 units, up 28%, while the number ofimported completely built-up (CBU) ones was 8,312, down 4% from theprevious month.

In the first six months of 2023, VAMA members sold atotal of 137,327 units, down 32% compared to the same period last year with thesales of passenger cars, commercial vehicles, and special-use vehicles droppingby 37%, 11%, and 65%, respectively.

According to experts, besides sales by VAMA memberunits, the Vietnamese auto market also includes other automakers such as Audi,Jaguar Land Rover, Mercedes-Benz, Nissan, Subaru, Volkswagen, and Volvo, butthey do not disclose business results.

Meanwhile, Thanh Cong Group (TC Group) on July 12announced its sales of 5,108 Hyundai automobiles in June, which brought its six-month sale to28,011 units.

Vietnam’s automobile market grows 15% in H1 ảnh 2VinFast VF7 (Photo: VNA)

In addition, VinFast reported that it handed 2,660 electriccars over to customers in June. So, in the first half of this year, VinFast delivered 11,143units. 

According to experts, as the Government approved thereduction of 50% of the registration fee for new cars manufactured andassembled in Vietnam from July 1 (corresponding to a reduction of 5% - 6% ofthe price with fees/taxes being included), it is forecast that the Vietnameseauto market will prosper in the coming months./.

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