According to wholesale data released by Vietnam Automobile Manufacturers Association (VAMA), Vietnam’s new car market continued to recover in December 2020, with sales increasing by more than 11% from 31,255 units in the same month of the previous year to 34,860 units. ..
The economy recovered steadily from the 0.4% year-on-year growth seen in the second quarter of 2020, accelerating to 2.6% in the third quarter and 4.5% in the fourth quarter. International tourism restrictions remain a major drag on the economy, but they are benefiting from the trade war between China and the United States, with manufacturing and exports driving the recovery.
After a 30% decline in the first half of 2020, the automotive market recovered significantly in the second half, with full-year sales down 7% from 305,562 in 2019 to 283,983. Passenger car sales declined. Commercial vehicle sales were 68,075 units, down more than 10%, while 215,908 units were just under 6%.
Truong Hai (Taco) Group, a local assembler and distributor of brands such as Kia, Mazda and Peugeot, and an important player in the commercial vehicle segment, reported last year that group sales increased 9% to 100,727 units. did. This includes Kia sales up 30% to 39,180 units, Mazda sales down 1.5% to 32,224 units, and Octopus truck sales up 5% to 24,119 units.
Toyota sales in 2020 decreased by nearly 11% to 70,692 units, Mitsubishi sales decreased by 6% to 28,954 units, Ford sold 24,663 units (-23%), and Honda sold 24,418 units (-26%). It became.
Vietnam’s sales recovery continues in December | Automotive Industry News
Source link Vietnam’s sales recovery continues in December | Automotive Industry News