Car sales rebound in May thanks to lower car prices

Many car models have been heavily discounted, helping sales of manufacturers as well as the entire market grow again after a gloomy April.

According to the sales report of the Vietnam Automobile Manufacturers Association (VAMA), total market sales in May reached 23,232 vehicles, up 6% compared to April but down 11% compared to May 2016. This is the second highest sales month since the beginning of the year.

Of the total sales of 23,232 vehicles, 12,915 were passenger cars; 9,005 were commercial vehicles and 1,312 were specialized vehicles. Passenger car sales increased by 20%; commercial vehicles decreased by 6% and specialized vehicles decreased by 22% compared to the previous month.

The output of domestically assembled cars reached 16,656 vehicles, up 1% over the previous month, and the number of imported cars was 6,576 vehicles, up 20% over April.

May sales rebounded after a decline in April.

In the passenger car segment, Vietnamese people prefer sedans the most with 6,054 units sold. The corresponding sales of SUV, Crossover, MPV, and Hatchback models were 2,937, 585, 1,213, and 1,096 units, respectively.

Pick-ups and minivans also attracted domestic users when 2,028 pickups were delivered to users and 2,366 minivans were sold.

With the production and distribution of trucks, buses and tourist vehicles, Truong Hai's market share in May was the largest at 37.8%. Toyota Vietnam ranked second with a market share of 23.6% and sales of 5,151 vehicles. Ford Vietnam held a market share of 11.2% with sales of 2,451 vehicles. Other brands held a small portion of the remaining market share.

Toyota Vios was the best-selling car model in May with sales of more than 1,700 units.

The top 10 best-selling cars in May are still familiar names such as Toyota Vios, Ford Ranger and Kia Morning. Honda CR-V also returned to the top 10 after many months of absence.

By the end of May, total sales of the entire market reached 109,903 vehicles, down 1% compared to the same period last year. Passenger cars increased by 6%; commercial vehicles decreased by 9% and specialized vehicles decreased by 19% compared to the same period in 2016.

According to Zing