Vietnam's car sales continue growth trajectory in October

November 12, 2022 | 22:04

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Vietnam's car market has continued to maintain its growth after recording an uptick in sales in October.

Vietnam's car sales continue growth trajectory in October

Illustration photo. Source: baodautu.vn

Data from the Vietnam Automobile Manufacturers’ Association (VAMA) reveals that sales of automobiles in Vietnam reached 36,560 units in October, an increase of 9.3 per cent over September and 22.7 per cent against October 2021.

The number of passenger car sales increased by 10 per cent from the previous month to 28,230 units. Deliveries of commercial vehicles grew by 6 per cent to 8,003 units, while deliveries of special-purpose vehicles rose by 4 per cent to 327 units.

Meanwhile, there were 20,051 completely knocked-down vehicles and 16,509 completely built vehicles sold in October, a rise of 17 per cent and 1 per cent respectively compared to last month.

In total, 334,963 vehicles have been sold by VAMA members in the first 10 months of 2022, up 52 per cent from the same period last year.

Other car manufacturers, such as Hyundai and VinFast, recorded combined sales of 10,000 cars per month. If those figures are added, Vietnam's car sales could surpass the 400,000-unit mark for the first ten months.

Vietnam's car market is still growing strongly amidst the difficult macroeconomic situation and credit tightening, with sales continuing to grow after a sharp plunge in June. The domestic auto market is expected to remain robust in the final two months of the year as it enters the peak season in preparation for the Lunar New Year.

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