Vietnam's car sales rebound in June

July 18, 2023 | 19:07

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Vietnam's car sales rebounded in June following five consecutive months of shrinking demand.

Vietnamese automakers under the Vietnam Automobile Manufacturers’ Association (VAMA) sold 23,800 vehicles in June, an increase of 15 per cent against May 2023.

Passenger cars recorded a 20 per cent rise in sales last month, reaching 17,334 units. Commercial vehicle sales climbed 4 per cent to 6,344 units, while special-purpose vehicles declined by 17 per cent to 122 units.

A total of 15,488 completely knocked-down vehicles were sold last month, increasing 28 per cent against May 2023. Meanwhile, sales of completely built vehicles decreased by 4 per cent to 8,312 units.

In the first six months of 2023, VAMA member companies sold 137,327 vehicles in total, down 32 per cent compared to the same period last year. VinFast has delivered 11,638 electric vehicle units in the first six months of 2023 while TC Group sold out 28,011 cars under Huyndai brands, equalling to 62 per cent of last year's period.

The government has just greenlit a 50 per cent reduction of the registration fee for new cars manufactured and assembled in the country, effective from July 1. It is forecast that the Vietnamese auto market will recover in the coming months.

In May 2023, Vietnam's car market generated sales of 19,266 vehicles, down 51 per cent over the same period last year and down 7 per cent compared to April 2023.

In April 2023, the market sold 22,409 vehicles, down 47 per cent over the same period last year and down 25 per cent compared to March 2023.

Vietnam posts 33 per cent increase in auto sales in 2022

Automakers under the Vietnam Automobile Manufacturers’ Association (VAMA) sold over 404,500 vehicles of different types in 2022, up 33 per cent from the previous year.