Domestic car sales to surge ahead of Tet holiday, auto experts say

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VIETNAM, Nov. 19 – HÀ NỘI — Việt Nam’s auto market is expected to see car sales surge during the holiday season as the industry continues to recover from sluggish sales during the global pandemic, experts say.

According to the Vietnam Automobile Manufacturers Association (VAMA), the volume of automobile sales in Việt Nam reached 36,560 units in October, an increase of 9.3% compared to September and 22.7% compared to compared to the same period last year.

The number of passenger cars sold rose 10% from the previous month to 28,230 units. Commercial vehicle deliveries increased 6% to 8,003 units, while special purpose vehicle deliveries increased 4% to 327 units.

Meanwhile, 20,051 completely knocked down (CKD) vehicles and 16,509 completely built units (CBU) were sold in October, up 17% and 1%, respectively, from last month.

A total of 397,457 vehicles were sold by VAMA members in the first 10 months of 2022, up 52% ​​from the same period last year. Auto sales could top 400,000 for the first time in eight years.

Besides car sales from VAMA members, the Vietnamese car market has also seen strong sales from automakers such as Audi, Jaguar, Land Rover, Mercedes-Benz, Nissan, Subaru, Volkswagen and Volvo. However, they have not made their sales figures public.

Other automakers, such as Hyundai and VinFast, had combined sales of 10,000 cars per month. If these figures are added, car sales in Việt Nam would exceed the 400,000 unit mark for the first 10 months of the year.

Experts said Việt Nam’s macroeconomic stability, increasingly stable car supply and impressive sales of many new models will continue to help the local auto market maintain growth in the coming months.

The domestic auto market is expected to remain robust in the remaining months of this year as it enters the peak season ahead of the next Tết (Lunar New Year 2023).

The dealers give discounts for the holiday season and TếtVietnam’s biggest holiday, which falls at the end of January in 2023.

The Vietnam Motor Show 2022 from October 26-30 also contributed to the increase in auto sales during the 10-month period, as a record number of nearly 2,000 units were sold and thousands more were sold. been pre-ordered thanks to the show, indicating a revival in demand after two years of stagnation due to COVID-19.

In addition, many car manufacturers have recently released new models to prepare for the end-of-year peak season.

According to Ford Vietnam Managing Director Ruchik Shah, the positive sales in the Vietnamese auto market reflect a recovery from COVID-19. In addition, the fourth quarter of each year is always the best sales period for local dealers. —VNS

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