Vietnam's car consumption sets a record in the past 20 years

VAMA said that car consumption in Vietnam increased sharply at the end of the year, setting a record high in the past 20 years.

According to the Vietnam Automobile Manufacturers Association (VAMA), in 2016, Vietnam sold 304,427 cars (up 24% compared to 2015), of which passenger cars increased by 27%, commercial vehicles increased by 25% and specialized vehicles increased by 33%. Sales of domestically assembled cars in 2016 increased by 32% (nearly 230,000 units) compared to 2015. Meanwhile, imported cars increased by 5% (over 765,400 units).

Car sales increased in the last month of 2016. (Illustration: KT)

VAMA said that the strong increase in car consumption at the end of the year set a record high in the past 20 years. In December 2016 alone, the total sales of the market reached 33,295 vehicles, an increase of 17% compared to the previous month. Of which, sales were 22,838 passenger cars (up 27%), 9,372 commercial vehicles (up 1%) and 1,085 special-purpose vehicles (down 4%).

In December, domestically assembled cars sold 23,565 (up 7.3% compared to the previous month) while imported cars reached 9,730 (up 50% compared to November 2016).

VAMA assessed that the demand for cars of Vietnamese people is increasing with an average of 845 cars sold on the market every day. Forecasting the demand for cars in Vietnam in 2017, VAMA said that the sales of the whole market will increase by about 10% with about 335,000 new cars sold./.

According to VOV