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Automotive Industry
August 8, 2007

Car sales surge 92% in July
The Vietnam Auto Makers' Association (VAMA) reported a year-on-year 92 per cent growth in sales of domestic cars in July.

A total of 6,474 vehicles were sold last month with Toyota leading all auto-makers by selling 1,774 units, representing an increase of 45 per cent over the same period last year, followed by Truong Hai Auto Company with 972 units. Vidamco and Vinasuki also enjoyed increased retail figures.

Altogether, VAMA sold 34,998 vehicles in the month, representing an increase of 82% over the corresponding period last year.

Economists predicted a much more thriving market in the later half of the year with more new models to roll out of production chains as smaller framed Vios cars by Toyota Vietnam and C-Class by Mercedes-Benz.

The Government's recent decision to cut car import tariffs by 10% to 70% is expected to fuel further increases of car purchases, market experts said. VNA


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