Vietnam’s automobile market continues growing in March

Vietnam’s automobile market posts a growth of 30% in March. (Photo: VNA)

Hanoi (VNA) – 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.

Of the sold vehicles, there were 21,696 passenger cars, up 28%; 7,990 commercial vehicles, up 39%; and 352 special-use vehicles, an increase of 17% compared to the previous month.

In terms of vehicle origin, the sales of domestically-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.

In 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, VAMA members sold a total of 70,392 units, down 22% compared to the same period last year with the sales of passenger cars, commercial vehicles, and special-use vehicles dropping by 26%, 5%, and 48%, respectively.

By the end of March 2023, the sales of domestically-assembled cars decreased by 34% while the number of imported cars dropped by 4% compared to the same period last year.

According to experts, besides car sales of VAMA member units, the Vietnamese auto market also includes other automakers such as Audi, Jaguar Land Rover, Mercedes-Benz, Nissan, Subaru, Volkswagen, and Volvo 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, VinFast reported that it handed over 915 electric cars to customers.

After seeing a decline in sales of most car manufacturers in January, car manufacturers and dealers have continuously applied preferential and promotional policies, which focus on supporting registration fees or deducting cash for car buyers to stimulate demand, so that the auto market maintains its growth momentum.

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