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Vietnam: Car sales at 2-year low in Sept


October 10, 2008

Vietnam: Car sales at 2-year low in Sept
Vietnam's auto market last month saw the lowest sales volumes seen in two years, state news agency VNA quoted the Vietnam Automobile Manufactures Association (VAMA) as saying.

Seventeen leading auto makers in the country sold 5,180 vehicles last month, down 33 percent over the same period last year and 2,629 vehicles less than in August, it said.

According to the association, only Toyota had sales of more than 1,000 units last month. Six months ago, five companies reached that quota.

The passenger-car segment led the figures down in September, with a 49 percent decline year-on-year to 1,137 units, the lowest level since May 2007.

Sport Utility Vehicles (SUV) and Multi Purpose Vehicles (MPV) saw a 28 per cent decline year-on-year to 1.130 units, the worst figures since April 2006.

Commercial vehicle sales also saw a 25 per cent decline year-on-year to 2,913 units.

Severe economic recession and galloping inflation have impacted customers and negatively affected the auto market, said a representative from GM-Daewoo in Hanoi.

In company rankings, Toyota topped the list with 1,226 units sold last month, followed by bus and truck maker Vinamotor with 771 units, GM-Daewoo brand Vidamo with 601 units and Truong Hai with 566 units.

Car ownership remained limited to the elite and emerging upper classes in Vietnam. The country has more than 900,000 privately-owned cars and 21 million motorbikes.

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