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Monthly car sales slump to two-year low
The auto market last month saw the lowest sales volumes seen in two years, reported the Vietnam Automobile Manufactures Association (VAMA).
Seventeen leading auto makers in the country sold 5,180 vehicles last month, down 33 percent over the same period last year and 2,629 vehicles less than in August, it said.
According to the association, only Toyota had sales of more than 1,000 units last month. Six months ago, five companies reached that number.
The passenger-car segment led the figures down in September, with a 49 percent decline year-on-year to 1,137 units, the lowest level since May 2007.
Sport Utility Vehicle and Multi Purpose Vehicle (SUV/MPV) saw a 28 percent decline year-on-year to 1.130 units, the worst figures since April 2006.
Commercial vehicle sales also saw a 25 percent decline year-on-year to 2,913 units.
“Severe economic recession and galloping inflation has impacted customers and negatively affected the auto market,” said a representative from GM- Daewoo in Hanoi .
In company ranking Toyota topped the list with 1,226 units sold last month, followed by bus and truck maker Vinamotor with 771 units, GM-Daewoo brand Vidamo with 601 units and Truong Hai with 566 units.
Car ownership remain limited to the elite and emerging upper classes in Vietnam . The country has more than 900,000 privately-owned cars and 21 million motorbikes.
According to the Ministry of Industry and Trade , Vietnam has more than 40 auto makers and more than 100 auto-makers makers with a total capacity of more than 200,000 units per year.
VNA
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