Vietnam Auto Sales Rise 141 per cent in First Half of 2008

Auto sales in Vietnam rose 141 per cent on year to 68,609 units in the first half of this year despite a considerable decrease in terms of volume last month, according to statistics released by the Vietnam Association of Automobile Manufacturers (VAMA).

 

On-year increase was led by sales of commercial vehicles, which were up 225 per cent from a year ago, while passenger car sales growing 90 per cent to 12,296 units, the association said.

 

The statistics also showed that local carmakers sold 9,749 units in June 2008, up 60 per cent from a year ago but down 1,745 units over May as a result of the government&rsquos policy to limit consumption in the context of soaring inflation and high trade deficit.

 

In the period, Japans Toyota topped the list with 12,510 units sold, followed by domestic companies Vinamotor with 14,594 units and Truong Hai with 11,295.

 

Some joint ventures also saw growth. Honda sold 790 units in June (+ 164), Mercedes 232 (+ 21), and Hino 388 (+ 104).

 

The Ministry of Finance has two times raised the import tax on car parts so far this year.

 

Car imports in the first six months surged 247 per cent to US$1.6 billion, with the volume of fully assembled vehicles jumping more than 400 per cent to 42,000 units, government figures show.

 

Following is the breakdown of car sales, market shares and the growth of the 17 VAMA carmakers in January-June 2008.

 

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