Auto market recovering but sales still down

Though auto sales in September rose handily against August, the monthly total was still the second lowest of the year.

After lunar July (which is considered an unlucky month in Vietnam and Asia) and with social distancing measures gradually eased, the local auto market has shown signs of improvement, but the September figure was low compared to average monthly sales this year.

September sales totaled 13,537 vehicles, up 52 per cent compared to August but down 50 per cent against September 2020, according to an announcement from the Vietnam Automobile Manufacturers’ Association (VAMA).

Sales in August were a record low since 2015. Despite September sales rising handsomely against August, the total was the second lowest this year, higher only than the August result.

Total year-to-date sales as of the end of September were up 5 per cent year-on-year, of which passenger car sales fell 0.3 per cent, commercial vehicle sales rose 19 per cent, and specialized vehicle sales rose 56 per cent. Sales of domestically-assembled vehicles were down 6 per cent while those of imported vehicles rose 26 per cent.

VAMA said September sales were down a hefty 18 per cent compared to September 2019, before Covid-19 broke out.

Individual car manufacturers also announced sales figures for September. VinFast’s result was positive compared to August and Hyundai saw a strong increase in sales, while Honda posted only a modest increase.