Hanoi, August 15, 2024, The Europe Today: Auto sales in Vietnam rose by nine percent in July compared to the previous month, reaching a total of 28,920 units, according to data released by the Vietnam Automobile Manufacturers’ Association (VAMA) on Tuesday.
The increase in sales was driven by strong demand for both locally-assembled vehicles and imported completely-built units (CBUs). Sales of locally-assembled cars totaled 13,788 units in July, marking a six percent increase from June. Meanwhile, deliveries of imported CBUs surged by 11 percent to 15,132 units.
Over the first seven months of the year, VAMA members sold a total of 163,804 vehicles, reflecting a modest one percent increase year-on-year. However, this period saw a 12 percent decline in sales of domestically produced units, which totaled 81,637 vehicles. In contrast, sales of imported vehicles rose by 19 percent year-on-year, reaching 82,167 units.
As the seventh lunar month began on August 4—a period traditionally viewed as inauspicious by many Vietnamese for significant financial transactions such as purchasing real estate and cars—car dealers have rolled out substantial incentives to boost sales during this time.
The growth in auto sales, particularly in the CBU segment, underscores the continued demand for vehicles in Vietnam despite the seasonal challenges presented by the lunar calendar.
