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Sales of locally-made cars sliding
The sales of cars decreased considerably in June for the second consecutive month, according to the Vietnam Association of Automobile Manufacturers (VAMA).
Statistics released by VAMA show that the 16 members of the association sold 9,749 units in June 2008, down by 1,745 units over the previous month. Meanwhile, the sales of all cars in May decreased by 1,777 units over April.
Toyota Motor Vietnam saw a slight decrease in sales from 2,332 units in May to 2,282 units in June. However, the manufacturer still led the market in sales.
Domestic automobile manufacturers, including Truong Hai and Vinamotor, witnessed the sharpest sales decreases in June. Vinamotor’s sold units decreased by 500 units, from 1,932 units to 1,432, while Truong Hai’s decreased by 445 units, from 2,142 units to 1,679.
With the sales decreases of the two leading domestic manufacturers, the sales of 100% domestic-owned enterprises in general saw a considerable decline. Vinaxuki sold 554 units in June, down by 256 units compared to May 2008. Two other manufacturers had modest sales in June. Vinacomin sold 34 units, while Samco 16 units.
While domestic manufacturers witnessed sharp declines, joint ventures saw small decreases only.
Besides Toyota, other joint ventures also saw decreased sales in June compared to May, namely Ford, Isuzu, Visuco (Suzuki), Vinastar (Mitsubishi), Vidamco (GM-Daewoo), VMC (Mazda, Kia) and Mekong (Fiat, Ssangyong, PMC).
Ford sold 446 units in June, down by 36 units, Visuco 265 (- 65), Vinastar 236 (- 54), Vidamco 1,009 (- 326), VMC 20 (- 14), and Mekong 198 (- 42).
Meanwhile, some joint ventures saw growth. Honda, for example, sold 790 units in June (+ 164), Mercedes 232 (+ 21), and Hino 388 (+ 104).
Though witnessing considerable declines over previous months, the sales of VAMA’s members in June 2008 still rose by 60% over June last year, while sales in the first half of 2008 increased by 141% over the first six months of 2007.
The figures clearly reveal the impacts of the policies on the automobile industry and Vietnam’s automobile market. The government’s policy to limit consumption in the context of high inflation and the high trade deficit has been successful.
The Ministry of Finance has two times raised the import tax on car parts.
The figures also show that though experiencing a downturn, Vietnam’s automobile industry is still recording solid achievements despite the national economy facing a lot of challenges.
VNN
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