Auto sales nearly double in 2007

Auto sales nearly double in 2007

09/01/2008 -- 4:07 PM

Ha Noi (VNA) – The top 16 car makers in Viet Nam sold a total of 80,392 vehicles last year, the highest number since the first foreign car-maker came to the country 16 years ago, and almost reaching the Government’s 2010 target of 100,000.

The figure represents a year-on-year increase of 97 percent, said the Viet Nam Automobile Manufacturers Association (VAMA).

Auto sales grew for eleven consecutive months last year, fuelled largely by stronger sales of commercial vehicles. Last year 40,277 units were handed to customers, a 129 percent increase on the corresponding period in 2006.

Passenger car sales also rose by 128 percent to 17,027 against 7,480 units in 2006.
In addition, multipurpose and sport utility vehicles (MPVs/SUVs) performed better last year with 23,088 units sold, up 46 percent year-on-year.

Predictably, Toyota topped the pecking order, selling 20,113 vehicles, a year-on-year increase of 36 percent, which accounted for 25 percent of the market share.

Truck and bus maker Truong Hai, which specialises in producing the Republic of Korea’s Kia models, came second with 11,534 units, up 115 percent on the previous year and accounting for 14 percent of the market share.

GM Daewoo ranked third with 7,580 units, registering an annual growth rate of 364 percent and a market share of 9.4 percent. Chinese truck-maker Vinaxuki ranked fourth with 7,358, which represented a 9.2 percent market share.

VAMA chairman Udo Loersch said he expected the car market to continue to grow this year.

“However, it will largely depend on import tariffs of CKDs (complete knockdowns) and CBUs (complete built units),” he said.

According to the General Statistics Office (GSO), the country imported 28,000 CBUs last year, up 223 percent on 2006.

The CBU import value in 2007 reached a record 523 million USD, against 208 million USD in 2006.

According to the Ministry of Industry and Trade , Viet Nam currently has more than 40 car makers and more than 100 car-part makers with a total capacity of over 200,000 units per year.-Enditem

(VNAgency)