Vietnam's automobile market plunged in early 2017

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According to reports of the Vietnam Automobile Manufacturers Association (VAMA), sales in all auto segments of its members in January have fell down by 39% from December 2016 and 13% compared to the same period last year.

The reports said that VAMA members’ auto sales in the first month of the year reached only 20,232 units, including 14,749 cars, 5,098 and 385 other kinds of vehicles for commercial and special-function purposes, respectively, were sold.

Photo for illustration.

Thus, the sales of most car sellers are currently experiencing negative growth as sales of private cars went down by 35% (5% up compared to the first month of 2016), commercial purposes vehicles by 45% and, and special-use vehicles by 64% compared to the previous month.

The report also revealed that, the first month of 2017 saw the decrease in sales of both locally-assembled and imported vehicles. Only 15,504 cars were assembled in the Vietnam previous month, down by 34% against last month and by 18% compared to the same period last year, while only 4,728 were imported, down by 51% from previous month and by 11% against same period last year.