Vietnam Auto Sales Up 2% to 104,395 Cars in Jan-Nov

4:53:10 PM | 12/10/2009

Auto sales by automakers in Vietnam rose 2% on-year to 104,395 cars in the first 11 months of 2009 thanks to a sharp jump of 132% in November, the Vietnam Association of Automobile Manufacturers (VAMA) said.

On-year increase was led by sales of passenger cars, which rose 39% on-year to 29,518 units. Following is SUV/MPV car sales with an increase of 1% to 24,378 units.

Sales of commercial vehicles, however, dropped 11% on-year to 50,499 units, VAMA said in a report.

The VAMA report also showed that its members sold 12,259 new vehicles in November, compared with only 5,286 units it announced in the same month last year. The Nov sales meanwhile rose by 4.2% from the previous month.

Two segments that were major drivers for growth last month are passenger cars which grew 215% from last November to 4,486 units; and SUV/MPV which rose 112% to 2,819 units.

Japan’s Toyota Motor Corp (7203.T), the top seller, sold 3,464 cars in November, up 135% from the same month last year. Its accumulated sales so far this year rose 19% from a year earlier to 25,927 cars.

Vietnamese have been rushing to buy cars since the government announced that it would stop ownership registration fee and tax reduction for cars and auto components next year.

The registration fees collected from car purchasers in Hanoi and HCM City will be adjusted to 12%, instead of the current 6%, early 2010. In other cities, the applied registration fees would be 10%, instead of 5%.

Meanwhile, the value added tax on cars and auto components will also return to the previous level of 10% from current 5%.

VAMA had asked for an extension of the tax relief through next year fearing that car sales could slump sharply if it ends abruptly.

Following table is the breakdown of car sales, market shares and the growth of the 16 VAMA carmakers in Jan-Nov 2009:

Carmakers	Sales (car)	On-year Growth
Mekong (Fiat, Ssangyong, PMC)	570	-63%
VMC (BMW, Mazda, Kia)	734	63%
GM Daewoo	12,528	24%
VinaStar (Mitsubishi)	3,063	17%
Mercedes-Benz Vietnam	2,910	48%
Visuco (Suzuki)	2,262	-20%
Toyota	25,927	19%
Isuzu*	2,597	-19%
Ford	6,806	16%
Hino*	1,925	-21%
SAMCO	414	1%
Truong Hai	18,783	17%
Vinacomin - Vinacoal*	200	-44%
Vinaxuki	8,012	6%
Honda	3,736	-30%
Vinamotor*	13,928	-30%
Total	104,395	2%

(VAMA)

Other News

LOCAL NEWS

PHU THO:

Vietnam Auto Sales Up 2% to 104,395 Cars in Jan-Nov

Other News

LOCAL NEWS

Phu Tho: Resolutely Tackling Obstacles in Key Transport Projects

Hai Phong 70 Years of Surmounting Challenges to Achieve Robust Growth

Ho chi minh city Prioritizing Investment Attraction and Business Growth

Ha Nam Strengthening Legal Accessibility for People and Businesses

Resolute Actions for Green and Sustainable Development Goals