Vietnam auto sales up 2% to 188,997 units in Jan-Aug
Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 188,997 units in the first eight months of 2024, up 2% year-on-year.
The figure is an improvement after a long slump. After a 33% year-on-year growth in 2022, the automobile market dropped 25% year-on-year to 301,989 units in 2023 and inched down 2% to 134,884 in the first half of 2024. The market made its first recovery with a 1% increase in January-July.
In Jan-Aug of 2024, the auto sales included 139,271 passenger cars, up 2% year-on-year; 48,197 commercial vehicles, up 4%; and 1,529 special-purpose vehicles, up 1%.
The number of completely knocked down (CKD) vehicles sold was 94,141, down 11% year-on-year; and that of completely-built-up (CBU) units was 94,856, a 21% growth.
August sales of 25,196 vehicles, featuring 19,129 passenger cars, 5,901 commercial vehicles, and 166 special-purpose vehicles, was up 12% from August 2023, but down 13% from the previous month. The numbers of CKD and CBU units sold in the month were 12,064 and 13,132, respectively.
Outside VAMA, Hyundai sold 34,389 units in the eight-month period, according to a report by TC Group, manufacturer and official retailer of the South Korean brand’s vehicles in Vietnam. Its August sales figure was 4,679 units, down 12% from one month ago.
As a result, Hyundai was the best-selling brand in Vietnam in the eight months, followed by Toyota (33,516), Ford (24,071), Mitsubishi (22,548), KIA (18,933), Mazda (17,691), and Honda (14,047).
Vietnamese conglomerate Thaco, which manufactures and sells KIA, Mazda, Peugeot and BMW vehicles apart from its own Thaco trucks and buses, recorded total sales of 50,860 units in the period.
Some Mitsubishi Xforce vehicles. Photo courtesy of Mitsubishi.
Mitsubishi Xforce, a five-seater SUV, topped the August sales chart with 2,504; followed by Ford Ranger, a pickup truck, with 1,274; and Mazda CX-5, a sport utility vehicle (SUV), with 1,070.
Ford Ranger, a pickup truck, topped the January-August sales chart with 10,293 units; followed by Mitsubishi Xpander, a multi-purpose vehicle (MPV), with 10,268; Mitsubishi Xforce with 8,142; and Toyota Vios, a sedan, with 6,970.
- Related News
- Read More
Shares of Vietnam's leading jewelry maker PNJ jump over 30% ahead of gold inspection report
Shares of Phu Nhuan Jewelry JSC (PNJ), a leading jewelry producer in Vietnam, rallied sharply ahead of the central bank’s Friday release of its gold market inspection findings.
Companies - Sun, June 1, 2025 | 1:14 pm GMT+7
Vietnamese firm takes over 40-year-old Pierre Cardin shoe chain in Thailand
Emall Vietnam, which owns a network of 100 high-end business shoe stores under the Pierre Cardin and Oscar brands in Vietnam, has taken over the entire Pierre Cardin shoe system in Thailand.
Companies - Sun, June 1, 2025 | 10:29 am GMT+7
Southern Vietnam province Ba Ria-Vung Tau okays 53 projects
Ba Ria-Vung Tau authorities on Friday granted in-principle approvals or investment registration certificates for 53 projects, including a green light for a $400 million investment capital hike of the $5.4 billion Long Son Petrochemicals Complex.
Industries - Sun, June 1, 2025 | 8:00 am GMT+7
Who to receive over 97 mln ESOP shares from Vietnam's leading developer Novaland
Novaland, a major real estate developer in Vietnam, will simultaneously implement plans to issue bonus shares and offer ESOP (employee stock ownership plan) shares, with a total issuance rate of 5%, equivalent to more than 97 million units.
Companies - Sat, May 31, 2025 | 11:09 pm GMT+7
Vietnam billionaire Pham Nhat Vuong to contribute 48 mln Vingroup shares to VinSpeed
Billionaire Pham Nhat Vuong has registered to transfer more than 48 million Vingroup (VIC) shares to the newly-established VinSpeed that registered to build the North-South high-speed railway project.
Infrastructure - Sat, May 31, 2025 | 7:14 pm GMT+7
Two investors propose $65 mln wind power project in central Vietnam
A consortium of Quang Tri Renewable Energy Investment JSC and Win Power Holding Pte Ltd, and Nam Binh Wind Power JSC have submitted an application to implement a 48-megawatt wind power plant in the central province of Quang Tri.
Energy - Sat, May 31, 2025 | 3:10 pm GMT+7
Central Vietnam city seeks investors for $209 mln LNG, LPG terminal project
The central city of Danang is calling for investment in an LNG and LPG terminal project worth over VND5.43 trillion ($208.7 million).
Infrastructure - Sat, May 31, 2025 | 10:52 am GMT+7
Thai-backed food giant C.P. Vietnam rejects pork safety accusations
C.P. Vietnam, a subsidiary of Thailand’s food giant Charoen Pokphand Foods Public Company Limited (CPF), has dismissed social media allegations of selling diseased pork, calling them fabricated and false.
Companies - Sat, May 31, 2025 | 8:54 am GMT+7
Oman Investment Authority to expand investment fund in Vietnam
Prime Minister Pham Minh Chinh has proposed Oman to enlarge the Vietnam-Oman Investment Fund (VOI) to $1 billion to better cater for the Southeast Asian country's investment needs.
Economy - Fri, May 30, 2025 | 11:26 pm GMT+7
Japanese retailer Aeon to build 2-hectare mall in Vietnam’s Mekong Delta
Retail giant Aeon will develop a 2-hectare mall in the Mekong Delta province of Tien Giang, with an estimated investment of VND1.16 trillion ($44.6 million).
Industries - Fri, May 30, 2025 | 4:44 pm GMT+7
76% of Vietnamese survey respondents say trade uncertainty encourages them to explore new opportunities: HSBC
Vietnamese businesses have experienced exponentially higher cost increases than the global average and are expecting additional short-term costs due to trade uncertainty. But many survey respondents (76%) think trade uncertainty has encouraged their business to evolve and explore new opportunities, write HSBC analysts.
Consulting - Fri, May 30, 2025 | 2:41 pm GMT+7
Vietnamese firm lands first $1 mln order on Alibaba after 8-year struggle to export
After five months of operating a virtual storefront on Alibaba’s B2B e-commerce platform, Sukavina Co., Ltd., a Binh Duong province-based manufacturer of metal tables, chairs, and beds, secured its first international order, marking a significant milestone in the company’s eight-year journey to global markets.
Companies - Fri, May 30, 2025 | 2:37 pm GMT+7
AgriS partners with IFC: Optimizing environmental and social management system, accelerating net zero 2035 goal
TTC AgriS (Thanh Thanh Cong-Bien Hoa JSC or AgriS) and International Finance Corporation (IFC) - a member of the World Bank Group - has signed an MoU to strengthen sustainable development governance in alignment with global standards.
Companies - Fri, May 30, 2025 | 2:30 pm GMT+7
Vietnam's stock market attractively priced: Finnish fund PYN Elite
Vietnam’s stock market is attractively priced, with a price-to-sales (P/S) ratio of 1.3, said Petri Deryng, portfolio manager at Finnish investment fund PYN Elite.
Finance - Fri, May 30, 2025 | 2:09 pm GMT+7
S Korea's SK Group eyes 3 LNG power projects in Vietnam: chairman
SK Group, South Korea’s second-largest chaebol, is exploring several LNG-fueled power projects in Vietnam, including three proposed to be included in the country's green growth project portfolio, said chairman Tae-Won Chey.
Energy - Fri, May 30, 2025 | 1:37 pm GMT+7
Vietnam's Hoa Phat Group to become Southeast Asia’s first producer of steel rails for high-speed railways
Hoa Phat Group, a top steelmaker in Vietnam, on Thursday signed an agreement with Germany’s SMS Group under which the latter will provide the former technology and production lines for manufacturing steel rails and shaped steel, with an annual capacity of 700,000 tons.
Companies - Fri, May 30, 2025 | 11:48 am GMT+7
