Vietnam’s auto sales surge 9% in July

Vietnam’s automotive market continued its upward trajectory in July, with total sales climbing nine per cent compared to the previous month to reach 28,920 units, according to the Vietnam Automobile Manufacturers’ Association (VAMA).

A breakdown of the figures reveals that locally assembled cars accounted for 13,788 units sold, a six per cent increase month-on-month.

Meanwhile, completely built-up (CBU) saw an even stronger performance, jumping 11 per cent to 15,132 units.

Over the first seven months of the year, VAMA members collectively sold 163,804 vehicles, a modest one percent year-on-year increase.

However, the market exhibited a mixed performance during this period, with domestic production falling 12 per cent to 81,637 units while imported vehicle sales surged 19 per cent to 82,167 units.

To stimulate sales during the traditionally slow month of August, which is considered inauspicious for major purchases like cars and real estate, car dealers are offering substantial incentives to entice customers.

Attribution: Vietnam News Agency
Subediting: M. S. Salama