Automobile market sees marginal growth after price reduction efforts
- Vietnam's automobile market is recovering
- Vietnam’s automobile market frozen as car price falls
- Vietnam's automobile market plunged in early 2017
 |
| The automobile market saw a 5% growth rate in June as a result of automobile distributors’ efforts to reduce car prices in response to sharp falls in the previous months. |
According to the sales statement of the Vietnam Automobile Manufacturers’ Association (VAMA), as many as 24,365 vehicles were sold in June, up by 5% from May. However, is the figure was still down by 0.2% compared with June 2016.
In June 2017, VAMA members sold 14,179 passenger cars, up by 10%; 9,177 commercial vehicles, up by 1.5%; and 1,049 special purpose vehicles, down by 20%, compared to the previous month.
The production of vehicles assembled in Vietnam reached 17,280 vehicles in June, up by 4% from last month, while 7,085 completely imported vehicles were sold, an increase of 8%.
The aggregate sales in H1 was down by 1% against the same period last year due to a 9% decrease in commercial vehicles and 18% fall of special purpose vehicles, while sales of passenger cars increased 7%.
In the first 6 months of 2017, sales of domestically assembled cars dropped 6% while imported vehicles increased 15% year on year.
