Car sales in Vietnam up 12% y/y in 2019
Car sales in Vietnam up 12% y/y in 2019
The year of 2019 was a difficult period for Vietnam’s auto market, but also marked positive performances of most local car producers.
Vietnam’s car market grew at a moderate pace in 2019, with 322,322 units sold, up 12% against last year, according to a report by the Vietnam Automobile Manufacturers Association (VAMA).
Taking into account the number of car sales from non-VAMA members, a total of 399,890 units were sold in 2019, the record figure number of Vietnam’s car market to date.
Number of car sales in 2019. Source: VAMA.
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Upon breaking down, 237,221 were passenger cars, up 20% year-on-year; while 79,911 were commercial vehicles, down 5.6%; and 5,190 special-purpose vehicles, down 27%.
Sales of domestically assembled cars reached 189,450 units in 2019, down 12% year-on-year, while 132,872 imported completely-built-units (CBUs) were sold in the period, jumping 82%.
In December, car sales reached 33,159 units up 11% month-on-month and down 3% against December 2018, including 24,823 passenger cars, up 11% month-on-month; 7,959 commercial cars, up 10.5%; and 377 special-purpose vehicles, up 14%.
Sales of imported cars up 82% year-on-year. Source: VAMA.
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The sales volume of locally assembled cars in December was reported at 19,700 units, up 19% month-on-month, and 13,459 imported cars were sold, up 1.6%.
VAMA suggested 2019 was a difficult year for Vietnam’s auto market, but also marked positive performances of most local car producers.
In 2019, Ford Vietnam reported sales volume of 32,175, up 31% year-on-year, in which the number in December was 3,095, up 17% month-on-month.
TC Motor recorded an impressive figure with 79,568 units sold, up 28% year-on-year. Another major player in the market, Toyota Vietnam, also kept up with others with a sales volume of 79,326 units.
