Both domestically assembled and imported cars were at a record high in November. This is a signal that the peak season for the auto market has officially begun.

According to a report by the General Statistics Office just released on November 29, in November, about 77800 cars, including both imported and domestically produced cars, were added to the market. This figure increased sharply by 49% compared to October. November became the month with the greatest number of new cars this year.

In which, the manufactured and domestically assembled number of units in November is estimated at 45,800 units, a sharp increase of about 20.8% compared to October (with 37,900 units), increasing 28.4% over the same period in 2021. The result brings the total number of this category in the first 11 months to an estimate of 407,100 units, up by 17.3% over the same period last year.

In the same report, an estimated 32,000 CBU cars were imported to Vietnam with a total estimated turnover of 616 million USD. This figure more than doubled over the previous month in both quantity and value.

However, the single-unit value of imported cars in the past month was low, reaching only 19,250 USD/unit (approximately 480 million VND). Last month, the single-unit value of imported cars was up to 24,600 USD/unit (610 million VND). This shows that the trend of auto importers in the past month is mainly towards low-priced cars in the mass segment.

The total number of imported CBU cars in the first 11 months of 2022 is estimated at 160,852 units with a total turnover of US$3.550 billion, up 11.1% in volume and 10.2% in value over the same period in 2021.

Source: vietnamnet.vn