Sales of assembled cars increased, imported cars decreased slightly

26,575 cars sold in June 2024

The sales report of the Vietnam Automobile Manufacturers Association (VAMA) just announced on July 10, 2024 shows that in June 2024, the total market sales reached 26,575 vehicles, an increase of 3% compared to May 2024, an increase of 12% compared to June 2023.

Specifically, total market sales reached 26,575 vehicles, including 19,944 passenger cars; 6,419 commercial vehicles and 212 specialized vehicles.

Notably, passenger car sales increased by 9%; commercial vehicles decreased by 12%, and specialized vehicles decreased by 21% compared to the previous month. Sales of domestically assembled vehicles reached 12,962 vehicles, up 8% compared to the previous month, and sales of completely imported vehicles were 13,613 vehicles, down 1% compared to the previous month.

In addition, sales of domestically assembled vehicles reached 12,962 vehicles, up 8% over the previous month, and sales of imported vehicles were 13,613 vehicles, down 1% over the previous month.

Sales in June 2024 of VAMA members compared to the previous month

Total sales of the entire market by the end of June 2024 decreased by 2% compared to 2023. Of which, passenger cars decreased by 3%; commercial vehicles increased by 2% and specialized vehicles decreased by 4% compared to 2023.

Total sales of the entire market as of the end of June. (Chart: VAMA)

By the end of June 2024, sales of domestically assembled cars decreased by 15%, while imported cars increased by 16% over the same period last year.

Car sales chart in June and the first 6 months of 2024. (Chart: VAMA)

In terms of brand market share rankings in June 2024, Toyota continued to hold the top spot with sales of 5,178 vehicles. Hyundai was still in second place with 5,047 vehicles. Thanks to its good sales performance, Ford remained in third place with 3,307 vehicles. The remaining positions were Mitsubishi (2,913 vehicles), KIA (2,874 vehicles), Mazda (2,562 vehicles), Honda (1,381 vehicles)... Honda Vietnam's car sales in June 2024 reached 1,381 vehicles, up 17.1% over the previous month and down 2.7% over the same period last year.

Combining the sales of VAMA and TC Group in June, the entire market consumed a total of 31,622 vehicles of all kinds, bringing the total number of vehicles sold in the first 6 months of 2024 to 159,235 vehicles. On average, the market consumed about 26,539 vehicles per month.

It can be seen that the consumption of domestically assembled cars has increased by 8% compared to the same period last month, in contrast to the decline in imported cars. Along with that, according to data from the General Statistics Office in June 2024, automobile enterprises are estimated to have assembled 27,200 cars, 200 more than the previous month. This growth started in May when the output increased by more than 1,000 cars compared to April 2024. Since the beginning of the year, manufacturing enterprises are estimated to have produced about 144,000 cars.

Promote new products and customer care

From the slight increase in the market, since the beginning of July, many businesses have focused on launching new products and promotional programs, customer care to stimulate market demand. For example, Distributor TC Services Vietnam revealed 2 products about to be launched in the Vietnamese market, associated with the global standards of the GAC brand.

Distributor TC Services Vietnam said that these two models will likely be launched at the same time as the Vietnam Auto Show 2024 at the end of October in Ho Chi Minh City. Among the above products, the GAC M8 is a combination of luxury and innovation, setting a new standard in the high-end MPV (Multi-purpose Vehicle) segment. The car possesses advanced technology, sophisticated design and many convenient features. The GAC M8 MPV first appeared in China at the 2022 Chengdu Auto Show as the second generation of the GAC GN8. The second model is the GS8, an SUV with a strong style, attracting attention with meticulously designed details such as a large V-shaped chrome grille; the interior has a central screen system, leather seats; super large trunk space; with a series of safety features such as: low-speed collision avoidance system, driver assistance system, pre-collision warning system. At the same time, the Megastar chassis system developed separately also helps to enhance the driving feeling, stable handling and safety on every journey.

In addition, Ford Vietnam officially introduced 3 completely new Transit versions: Trend 16 seats, Premium 16 seats and Premium+ 18 seats with modern, convenient and practical design style. The vehicle is equipped with a new 2.3L Diesel engine and 6-speed manual transmission, providing powerful operation and fuel economy.

In early July 2024, Ford Vietnam launched 3 all-new versions of the Ford Transit 2024, promising to attract the attention of customers in the light passenger vehicle segment in Vietnam.

The all-new Transit has the largest dimensions in its segment: Trend version is 5,998 x 2,068 x 2,485mm; Premium version is 5,998 x 2,068 x 2,775mm and Premium+ version is 6,703 x 2,164 x 2,775mm.

All three versions have the same 3,750mm wheelbase and 150mm ground clearance. The 18-seat Premium+ version stands out with its dual rear axles for an impressive appearance. The vehicle's seamless design features strong body lines, a prominent, sloping front end and Ford's signature C-shaped LED light clusters.

To attract customers, in addition to promotional programs and launching new car models, many companies also have specialized customer care activities. For example, Phu Thai Mobility, the Land Rover importer in Vietnam, introduced a personalized ordering service (SV Bespoke) at the modern showroom in Long Bien, Hanoi.

SV Bespoke offers access to a wide range of materials, as well as interior and exterior finishes for Range Rover Autobiography owners.

Land Rover Long Bien Hanoi is one of the few retail locations in the region with the ability to personalise SV Bespoke

Customers will follow a unique and comprehensive seven-step creation process, including choices of colours, themes, SV-exclusive options, materials, veneers and finishes, as well as customisation and personalisation. The SV Bespoke exterior paint palette includes over 230 colours in satin and gloss finishes.

According to the company representative, customers can embroider monograms or other designs on the seat backs, adding a subtle touch of personal style, designed to extend to the car steps. In addition to exquisite woods, high-end materials such as ceramic and metal can also be used.

Although the Vietnamese automobile market is expected to grow strongly in the last months of 2024, thanks to the approval of the proposal to reduce 50% of registration fees for domestically produced and assembled cars. However, domestic automobile manufacturers are still facing increasing pressure from imported cars.

According to preliminary statistics from the General Department of Customs, in June 2024, Vietnam imported 15,890 complete automobiles of all kinds, equivalent to more than 310 million USD, up 6.4% in volume but down 0.1% in value compared to May.

In the first two quarters of the year, our country imported a total of 74,585 complete cars of all kinds, worth more than 1.55 billion USD, up 5.2% in volume but down 6.4% in value compared to the same period. The average import price reached 20,788 USD/car (529 million VND/car), down 10.7% compared to the same period last year.

The Vietnam Automobile Manufacturers Association (VAMA) said: Chinese car manufacturers can produce low-cost electric cars, with retail prices ranging from only VND250-270 million. These low-cost electric car models can be imported and distributed in the Vietnamese market in the near future.

In addition to cheap electric cars, luxury cars from the European Union (EU) and the UK are increasingly increasing their import turnover into Vietnam thanks to tax reduction.

Source: https://congthuong.vn/thi-truong-o-to-thang-6-doanh-so-ban-xe-lap-rap-tang-xe-nhap-khau-giam-nhe-331341.html