WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Vietnam car sales rises 21% in two-month period
Ngoc Mai 20:33, 2021/03/16
The sale figure in February, however, was on the decline for two consecutive months with a contraction of 22% against the previous month to 13,585 units.

The number of cars sold in Vietnam in the first two months rose by 21% year-on-year to more than 40,000 units, which has been a reflective of the upward trend of economic performance, according to data released monthly by the Vietnam Automobile Manufacturers’ Association (VAMA).

 Number of car sales. Source: VAMA 

The volume included over 30,000 passenger cars, up 19% year-on-year, while the remaning were commercial cars with 9,500 commercial cars, and special-purpose vehicles with 470 units.  

As many as 23,120locally assembled cars were sold in the period, up 11% against the previous month, and the figure of imported cars rose by 37% to 16,900 units.

Truong Hai Auto Corporation (Thaco) led the market in the first two months of 2021 with nearly 15,000 units sold, up 39% year-on-year and accounting for 39.4% of the total sales in the market, followed by TC Motor (9,079) and Toyota (6,848).

The sale figure in February, however, has been on the decline for two consecutive months with a contraction of 22% against the previous month to nearly 13,600 units, in which passenger cars made up a lion’s share of 9,639, or 71% of the total.

    Sales of imported cars rose by 37% year-on-year in Jan-Feb. Source: VAMA

Experts have attributed such decline to the resurgence of Covid-19 outbreak in late January, a week-long Tet holiday in the month, as well as the end of the government’s support  program in the 50% reduction in registration fee for domestic cars.

While car dealers remained cautious about the prospect of car market in March, many expected a more positive sale figures for the second quarter given the launch of new car models, scheduled to be around April. 

RELATED NEWS
TAG: Vietnam car sales VAMA Covid-19 pandemic nCoV Tet Holiday outbreak
Other news
06:23, 2024/09/27
Hanoi unveils 2024 rural industrial plans
Hanoi is expected to organize 60 major trade promotion events this year, including one-sixth abroad.
06:17, 2024/09/27
Hanoi advances supporting industries for hi-tech services
The global commercial aviation market is expected to grow at an annual rate of about 5%, with Vietnam ranking 5th globally and 1st in Southeast Asia in aviation market growth.
19:40, 2024/09/25
Vietnam’s economy remains resilient amid global uncertainties: ADB
The industrial sector continues to be a primary driver of growth, with external demand for major electronics fueling production.
16:12, 2024/09/21
Vietnam’s 9-month fruit and veggie exports match last year's sales
Thanks to growth in major markets like China, the US, and South Korea, Vietnam’s fruit and vegetable exports are expected to set a new record this year.
17:11, 2024/09/20
Growing interest from Chinese investors in Vietnam’s market
Chinese investment has primarily flowed into advanced manufacturing, technology, and professional services sectors.
17:14, 2024/09/19
Hanoi Supporting Industry Fair 2024 draws big business
Big multinationals from Vietnam, Japan, China, Thailand, and Malaysia will gather at the event, which opened on September 18.