Automobile sales increase 33% in 2022

Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold 404,635 vehicles of all kinds last year, an annual rise of 33%.
Automobile sales increase 33% in 2022
Illustrative image (Photo: VNA)

Of the total, there were 316,941 passenger cars, up 48% year-on-year; 82,714 commercial vehicles, down 1.5%; and 4,980 special-purpose ones, down 14%.

Also of the total, 226,487 were domestically assembled and 178,148 imported, increasing by 30% and 37% from 2021, respectively.

In December alone, VAMA’s sales stood at 35,301 units, a month-on-month reduction of 3%. The figures of domestically assembled and imported vehicles were 17,666 and 17,635, down 6% and up 0.4%, respectively.

The December drop followed a decrease of 0.5% posted in November. Explaining such downward trend in the year-end peak period of consumption, experts mentioned difficult access to banks’ loans and increasing interest rates that have forced many to delay their purchases.

Apart from VAMA’s members, Vietnam’s automotive market also witnessed operations of other car manufacturers including Audi, Jaguar, Land Rover, Mercedes-Benz, Nissan, Subaru, Volkswagen and Volvo. However, they did not make public their sales figures. Other manufacturers, such as Hyundai, recorded combined sales of 81,582 units last year.

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(Source: VNA)