AUTO SALES JUMP 47% IN MARCH

Vehicles are on display at an auto show in HCMC – PHOTO: VNA

HCMC – Vietnam’s auto market posted a strong performance in March, with total sales surging 47% over February to 31,750 units, according to the Vietnam Automobile Manufacturers Association (VAMA).

Sales of locally assembled vehicles reached 14,887 units, up by 35% month-on-month, while vehicle imports soared by a robust 60% to 16,863 vehicles. This is one of the rare occasions where imported car sales outpace those of domestically assembled models.

However, VAMA’s data does not reflect the full market picture, as major automakers such as VinFast and Hyundai have yet to release their March sales figures.

According to data from the General Statistics Office, an estimated 58,075 new vehicles were added to the market in March, including imported and locally produced units. This figure represented a 17.2% increase from February’s total of 49,571 units.

The sharp increase in March follows a traditionally slower February, when sales often dip due to the Lunar New Year holiday. Industry experts noted that consumer demand typically rebounds in March, supported by new product launches and dealership promotions.

For the first quarter of this year, VAMA members sold a total of 72,249 vehicles, up by 24% year-on-year. Completely built-up (CBU) vehicles accounted for 37,175 units, a 36% rise from the same period last year. Meanwhile, locally assembled car sales grew by 13% to 35,074 units.

Source: The Saigon Times