Making news

Auto sales in 2019 picks up 12 percent

 Members of the Vietnam Auto Manufacturers’ Association (VAMA) reported a year-on-year sales surge of 12 percent in 2019, riding on hefty festive discounts and promotional programmes.

VAMA said a total 320,322 vehicles were sold by its members in the year, with sales of passenger cars surging 20 percent.

However, the sales did not reflect the consumption power of the country’s entire automobile market, as the figure did not include sales of other manufacturers that are not VAMA members such as Audi, Jaguar, Land Rover, Mercedes-Benz, Subaru, and TC Motor (Hyundai Thanh Cong), among others.

TC Motor alone said it sold 79,568 units in 2019, up 25 percent from the previous year.

According to Managing Director of Ford Vietnam Pham Van Dung, the auto market will maintain a growth of 10-20 percent in 2020 thanks to abundant supply, hefty discounts to boost car sales, and the launch of various new car brands to meet demand of the consumers.

Besides, some conditions for automobile manufacturing, assembly, import, and warranty offering in the Government’s Decree No.116/2017/ND-CP are expected to be abolished or revised, thus cutting costs and procedures for domestic car dealers, helping the auto market have a banner year, he said.