Auto market to continue growing: experts
Illustrative image (Source: Kia)
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.
The Vietnam Automobile Manufacturers’ Association (VAMA) said on November 16 that vehicle sales of its members reached 29,797 last month.
Of the total sales, there were 19,865 passenger cars, up 138 percent month on month; 9,492 commercial vehicles, up 94 percent; and 404 specialised vehicles, up 45 percent.
In terms of origin, the sales of domestically assembled and imported cars hit 15,344 units and 14,453 units, increasing 110 percent and 132 percent compared to September, respectively.
The association attributed the impressive rise to COVID-19 prevention and control measures rolled out by the Government.
In the first 10 months of this year, the total sales of VAMA members reached 218,734 vehicles of all types, up 3 percent from the corresponding time last year.
Experts said the January-October sales did not fully reflect the entire Vietnamese car market because the brands of Audi, Jaguar Land Rover, Mercedes-Benz, Subaru, Volkswagen, and Volvo did not disclose their figures.
Looking at the sales of automobile brands in Vietnam last month, Hyundai secured the first place. It was followed by Toyota, Kia, Ford, VinFast, Mazda and Honda./.
Related News
Vietnam's exports to Canada lead among CPTPP countries
09:41 | 25/04/2024 Headlines
Many new regulations aim to drastically remove the IUU "Yellow Card"
15:36 | 24/04/2024 Headlines
Take advantage of e-commerce leverage for export
13:25 | 20/04/2024 Import-Export
Latest News
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
More News
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Tra fish export to UAE jumps 67% in Q1
13:46 | 24/04/2024 Import-Export
Pepper prices continue increase trend
13:44 | 24/04/2024 Import-Export
More efforts needed to maintain export growth to China: Insiders
13:55 | 23/04/2024 Import-Export
It is expected that there are higher orders and revenue in the second quarter from European businesses
09:31 | 23/04/2024 Import-Export
Vietnamese rice prices on the hike
15:08 | 22/04/2024 Import-Export
FDI flow into garment and textile sector bounces back
15:06 | 22/04/2024 Import-Export
Investors play a key role in developing the industrial park system
10:38 | 22/04/2024 Headlines
Find ways to a corporation for businesses in industrial parks
10:38 | 22/04/2024 Import-Export
Your care
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export