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Vietnam’s automobile market continues growing in March

Members of the Vietnam Automobile Manufacturers Association (VAMA) sold over 30,038 vehicles in March, up 30% from the previous month, after recording growth of 33% in February, VAMA announced on April 13.
Vietnam’s automobile market continues growing in March ảnh 1Vietnam’s automobile market posts a growth of 30% in March. (Photo: VNA)

Hanoi (VNA) – Members of theVietnam Automobile Manufacturers Association (VAMA) sold over 30,038 vehicles inMarch, up 30% from the previous month, after recording growth of 33% in February, VAMA announced on April 13.

Of the sold vehicles, there were21,696 passenger cars, up 28%; 7,990 commercial vehicles, up 39%; and 352 special-usevehicles, an increase of 17% compared to the previous month.

In terms of vehicle origin, the sales ofdomestically-assembled cars reached 16,174 units, up 30%, while the number of imported completely built-up(CBU) cars were 13,864 units, up 31% from the previous month.

Vietnam’s automobile market continues growing in March ảnh 2In the first three months of 2023, VAMA members sold a total of 70,392 units. (Photo: THACO-Mazda)

In the first three months of 2023, VAMAmembers sold a total of 70,392 units, down 22% compared to the same period lastyear with the sales of passenger cars, commercial vehicles, and special-usevehicles dropping by 26%, 5%, and 48%, respectively.

By the end of March 2023, the sales ofdomestically-assembled cars decreased by 34% while the number of imported cars dropped by4% compared to the same period last year.

According to experts, besides car sales ofVAMA member units, the Vietnamese auto market also includes other automakerssuch as Audi, Jaguar Land Rover, Mercedes-Benz, Nissan, Subaru, Volkswagen, andVolvo but those automakers do not disclose business results.

Meanwhile, Thanh Cong Group (TC Group)announced its sales of 5,773 Hyundai automobiles in March. Besides, VinFastreported that it handed over 915 electric cars to customers.

After seeing a declinein sales of most car manufacturers in January, car manufacturers and dealershave continuously applied preferential and promotional policies, which focus onsupporting registration fees or deducting cash for car buyers to stimulatedemand, so that the auto market maintains its growth momentum.

Higher sales are expected in the secondquarter of this year as the demand will increase thanks to the peak tourismseason with greater travel demand, experts said./.

VNA
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