More than 12,000 cars sold during Tet month

Despite the 10-day Lunar New Year holiday, car purchases in February 2015 still reached 12,329 units, up 69% over the same period last year.

Total car sales in the whole market in the first two months of the year reached 32,308 units, up 76% over the same period last year.

This shows that the purchasing power of cars in Vietnam is still maintaining a fairly stable growth momentum. Note that the Vietnamese car market in the same period of 2014 was not affected by the holiday.

However, according to the report of the Vietnam Automobile Manufacturers Association (VAMA), the total automobile sales volume in the whole market in February 2015 still suffered a decrease of 38% compared to the previous month. Of which, the output of passenger cars reached 8,899 units, down 35%, and the output of commercial vehicles reached 3,430 units, down 46%.

From the above figures, if we look at the continuous increase and decrease over the months, the decline is obvious. However, that is not a matter of concern because with a month in which 1/3 of the entire industry is closed, the case of increased purchasing power needs to be… reconsidered.

According to VAMA's report, total car sales in the whole market in the first two months of the year reached 32,308 units, up 76% over the same period last year. Of which, the number of passenger cars reached 22,578 units and the number of commercial vehicles reached 9,730 units, both achieving a growth rate of 76%.

Separately, the number of imported completely built-up (CBU) vehicles in February 2015 reached 4,415 units, down 32%. In the first two months of the year, the number of imported CBU vehicles reached 10,907 units, up 111% over the same period last year, continuing to far exceed the 62% growth rate of domestically manufactured and assembled vehicles (CKD).

According to VnEconomy