Vietnam Jan-May Car Sales Up 162 per cent On-Year

11:38:59 PM | 6/10/2008

Automobile manufacturers in Vietnam sold 58,860 units in the first five months of this year, up 162 per cent on year, the Vietnam Automobile Manufacturers Association (VAMA) said in an official report.

The report showed that on-year increase was led by sales of commercial vehicles, which were up 265 per cent from a year ago, while passenger car sales growing 98 per cent to 9,849 units, the association said in its report.

As many as 11,494 new cars, trucks, and buses, including imported and locally-assembled vehicles, were sold in May, doubling the figure sold in May 2007 or up 106 per cent on-month, the association said.

The car sales of May 2008, however, fell 13 per cent against the previous month as a result of higher import tax on car spare parts hiked by the government.

On May 18, the Ministry of Finance signed a decision raising the tax on car-part imports by 5 per cent-10 per cent. The new tax rates were applied for customs declarations as of May 20.

In the period, Vinamotor still topped the list in the number of units with 13,162 cars, followed by Toyota and Truong Hai with 10,228 and 9,616 units, respectively.

Mekong saw the highest percentage increase with 1,070 units sold in the period, up 252 per cent on-year, followed by Hino with a 203 per cent increase and GM Daewoo with a 174 per cent rise.

Car sales surge was largely fuelled by strong demand from local companies.

Vietnam is estimated to spend US$1.306 billion importing automobiles and spare parts in the first five months of this year, up 292.4 per cent on-year.

The following table is the breakdown of car sales, market shares and the growth of the 17 VAMA carmakers in January-May 2008.

No	Car marker	Sale (Unit)	On Year Growth ( per cent)
1	Vinamotor*	13,162	N.A.
2	Toyota	10,228	+60
3	Truong Hai	9,616	+174
4	Vinaxuki	4,963	+146
5	GM Daewoo	5,874	+174
6	Ford	3,441	+112
7	Honda	2,816	+110
8	VinaStar (Mitsubishi)	1,534	+17
9	Isuzu*	1,897	+77
10	Visuco (Suzuki)	1,463	+77
11	Mekong (Fiat, Ssangyong, PMC)	1,070	+252
12	Hino*	1,109	+203
13	Mercedes-Benz Vietnam	902	+35
14	SAMCO	319	+50
15	VMC (BMW, Mazda, Kia)	261	-36
16	Vinacomin – Vinacoal*	205	+138
17	Vindaco (Daihatsu)	N.A	-100 per cent
	Total	58,860	+162

Note: *: not including bus chassis. (VAMA Release May 2008, GSO May 2008)

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