Vietnam Auto Sales up Nearly 200%

March 6, 2008
Strong showing in commercial vehicles

Vietnam automobile sales rose nearly 200% in February, pushed by a strong rise in the commercial vehicle sector, a group of manufacturers said on March 6. The 16 members of the Vietnamese Automobile Manufacturers' Association (VAMA) who produced automobiles in the month said they sold a total of 8,920 units in February, up 198% year-on-year.

The increase was mainly driven by a 485% jump in commercial car sales, while passenger car sales went up 92%, VAMA said.

Vinamotor topped the list in the number of units sold in February with 2,562 cars, followed by Toyota and Truong Hai with 1,464 and 1,277 units sold. Visuko (Suzuki) saw the highest percentage increase, with 224 units sold in February, up 579% year-on-year, followed by Vinaxuki and Mekong with 492% and 285% increases respectively. The latest data means Vietnam manufacturers sold 21,004 cars in the first two months of 2008, up 172% year-on-year, the report said.

Vietnam, a fast growing economy of 86 million, has seen a middle class emerge which is ready to spend more on luxury private vehicles despite high import tariffs and taxes.

Copyright Agence France-Presse, 2008

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