Vietnam auto market books consumption growth in March

Members of the Vietnam Vehicle Producers Affiliation (VAMA) bought over 36,962 autos final month, up 60 per cent on the month, in response to a current VAMA report.

This was the primary month of this 12 months the place auto gross sales of VAMA members had robust progress, after lowering by 34 per cent in January and 26 per cent in February.

Final month, passenger automobile gross sales surged 62 per cent on month to almost 28,491, whereas 7,794 industrial autos discovered prospects, up 63 per cent, and 677 special-use vehicles had been bought, up 41 per cent, in response to the report.

Gross sales of domestically-assembled vehicles and fully built-up (CBU) vehicles elevated by 50 per cent to 21,863 items and 82 per cent to fifteen,099 items per 30 days, respectively.

Aside from VAMA members, non-member automakers Thanh Cong Motor and VinFast bought 7,069 items and three,471 items final month.

Within the first three months of 2022, VAMA members bought 90,506 items, up 27 per cent year-on-year, of which passenger vehicles had been up by 39 per cent, industrial autos up by seven per cent and special-use autos up by 32 per cent.

Throughout the first three months, gross sales of domestically-assembled vehicles and imported CBU vehicles elevated by 34 per cent and 17 per cent year-on-year, respectively.

The market efficiency confirmed that within the first three months of 2022, the customers selected to purchase domestically-assembled vehicles to get pleasure from an incentive of lowering 50 per cent in registration charges in response to the federal government’s Decree 103/2021/ND stipulating the extent of the registration payment for domestically manufactured and assembled vehicles. This registration payment discount has been utilized from December 1, 2021, to Could 31, 2022.

With gross sales progress of 60 per cent on the month and 27 per cent on the 12 months within the first quarter of this 12 months, this was a powerful determine in automobile gross sales whereas the market remains to be being hit by the Covid-19 pandemic and dealing with a scarcity of chips and different elements.

Consultants mentioned that together with management of the Covid-19 pandemic in Vietnam and the discount within the registration charges, the home auto market would proceed its robust progress. The nation’s auto gross sales are anticipated to achieve 500,000 items this 12 months.

In the meantime, the Vietnam Motor Present, the biggest in Vietnam, will return this October following two years of postponement because of Covid-19.

The present will happen on the Saigon Exhibition and Conference Centre in Ho Chi Minh Metropolis on October 26-30.

At the least 11 carmakers, together with Audi, Honda, Jeep, Mercedes-Benz, Lexus, Mitsubishi, MG, Subaru, Toyota, Volkswagen, and Volvo, have registered to take part, in response to organisers.

Along with members of VAMA and the Vietnam Automobile Importers Affiliation, the occasion will see the participation of a number of producers and importers of bikes and several other companies within the supporting trade.

Workshops and conferences may even be held on the sidelines of the occasion, together with one to debate the worldwide pattern of electrical autos (EV) and the longer term improvement of the Vietnamese car trade.

VIET NAM NEWS/ASIA NEWS NETWORK