Vietnamese people increase car purchases at the end of the year.
Automakers sold over 44,700 vehicles in October, a 6% increase compared to September.
According to the Vietnam Automobile Manufacturers Association (VAMA), sales of its member companies and some other imported brands in October totaled 36,560 vehicles, a 9.3% increase compared to September and a 22.7% increase compared to the same period last year.
Combined with figures from Hyundai's TC Motor (8,174 vehicles), the entire market consumed 44,734 vehicles last month, a slight increase of 6% compared to the previous month. This marks the second consecutive month of market sales growth after a slight decline in August due to supply shortages.
For the second consecutive month, VinFast has not released its sales figures, nor has it given a specific reason.
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A crowd of visitors at the Mercedes-Benz Vietnam booth at the VMS 2022 exhibition. Photo:VMS |
In summary, the total market sales up to October of VAMA, other importers, and TC Motor reached 397,457 vehicles. VAMA alone sold 332,963 vehicles to its member brands with large market shares such as Toyota, Mazda, Kia, and Mitsubishi in the first 10 months of 2022. If the growth rate remains stable as it has been in the past two months, sales could exceed 400,000 vehicles for the first time in eight years, since statistics began being compiled in 2014.
Car sales are growing towards the end of the year thanks to promotional policies and discounts from both manufacturers and dealerships. For popular, scarce models, with waiting times of 1-2 months for delivery, customers have already started shopping now to secure a car for the Lunar New Year holiday.
The Vietnam Motor Show 2022 (VMS), which concluded at the end of October, recorded the highest number of orders ever, with nearly 2,000 vehicles sold (the exhibition lasted 5 days). In addition, thousands of orders were placed for upcoming models. This demonstrates the strong public interest in automobiles, especially after two years of stagnation due to the Covid-19 pandemic.
Because of the enormous potential of a market with over 98 million people like Vietnam, many new car manufacturers have recently sought to sell cars in Vietnam. Examples include the Chinese car manufacturer Chery and the Czech car manufacturer Skoda.
