The number of cars sold in Vietnam in March surged by 127% against the previous month to nearly 31,000 units, according to data released monthly by the Vietnam Automobile Manufacturers’ Association (VAMA).

The sales figure for the first quarter rose by 36% year-on-year to 70,952. Source: VAMA

The volume included over 21,000 passenger cars, representing a whopping increase of 119% month-on-month, while the remaining were commercial cars (9,277), and special-purpose vehicles (619).  

As many as nearly 17,200 locally assembled cars were sold in the period, up 99% against the previous month, and the figure of imported cars rose by 177% to around 13,800 units.

Overall, the sales figure for the first quarter rose by 36% year-on-year to 70,952, in which both domestic- and imported cars recorded positive growth rates of 24% and 55% to 40,262 and 30,690, respectively.

Car production at Vinfast manufacturing plant. Photo: Pham Hung

Truong Hai Auto Corporation (Thaco) led the market in the period with nearly 25,000 units sold, up 55% year-on-year and accounting for 37% of the total sales in the market, followed by TC Motor (9,079) and Toyota (15,886).

According to experts, in addition to attractive sales promotion offered by car dealers, the fact that domestic travel has resumed in a number of provinces/cities as a result of the country’s effective Covid-19 containment is a major boost for sales figure.

Strong market performance in March has also backed up expectation for a more positive sale figures for the second quarter given the launch of new car models, scheduled to be around April.