PSNews – Recently, the Vietnam Automobile Manufacturers’ Association (VAMA) has published a report related to Vietnam’s automobile market. Accordingly, automobile sales totalled just over 11,700 units in April, down 39% compared to March and 44% year-on-year.
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Vietnamese people have just followed a period of social distancing because of COVID-19 pandemic. This was also the reason why the automobile sales have plummeted dramatically in April.
The report of VAMA clearly informed that, Of the sold vehicles, nearly 7,800 were passenger cars, down 40%, while over 3,600 were commercial vehicles and 313 were special-purpose vehicles, decreased 36% and 16%, respectively. Sales of domestically-assembled vehicles reached 7,400 units, down 38%, while sales of imported vehicles were down 40% to 4,361.
During the first four months of the year, VAMA members sold a total of 64,100 units, down 36% year-on-year. Sales of domestically-assembled and imported vehicles slumped 33% and 40%, respectively.
Data from VAMA and TC Motor - the representative of Hyundai Thanh Cong and not a member of VAMA - show that the best-selling car brand remained Toyota, with 2,803 units, followed by TC Motor with 2,206, Mazda with 1,329, Kia with 1,118, Mitsubishi with 876, Honda with 834, and Ford with 702.
The domestic auto market is expected to begin to recover in May if COVID-19 is brought under control, albeit at a modest rate. However, sales on the Vietnamese automotive market in 2020 are forecast to drop by more than 15 percent compared with the previous year.By Linh Bui