For the first time, sales of the entire auto industry approached the milestone of half a million vehicles, an unprecedented number.

As of November, the total market sales as recorded by the Vietnam Automobile Manufacturers Association (VAMA) was 369,334 vehicles. Combined with the sales of non-VAMA brands, including 72,037 vehicles of TC Motor (Hyundai cars) and 18,052 cars of VinFast (as of August), auto consumption in Vietnam reached 459,423 vehicles.

VAMA’s average sales are more than 33,500 vehicles/month, TC Motor’s is more than 6,500 vehicles/month. Therefore, if the market maintains the current stable growth rate, and promotions stimulate consumer demands for December, car sales in Vietnam for the first time in history may surpass 500,000 vehicles. In the past, when the market was most active, over 400,000 vehicles were sold in 2020; the rest were around the threshold of 300,000.

Sales of half a million vehicles in Southeast Asia, are only achievable by the three largest regional markets: Thailand, Indonesia, and Malaysia. For Thailand and Indonesia alone, before Covid appeared (2019, 2020), sales were more than 1 million vehicles. Meanwhile, Malaysia was about 500,000-600,000 cars/year.

Accumulation to November also recorded the highest sales, 327,760 vehicles of VAMA members, this is the first time it surpasses the milestone of 300,000 vehicles. This associations with big names such as Toyota, Kia, Mazda, Mitsubishi, Mercedes … have increased sales by 40% over the same period last year.

The increasing consumption of cars in Vietnam shows that the demand for safer and more civilized vehicles than motorbikes is increasing. The potential of the market is great thanks to the nation’s large population. This is an important base to attract the attention of car manufacturers, not only present in the form of import business but also domestic assembly plants to take advantage of human resources and exploit the sales potential of the market.

Source: vnexpress.net