Figures from the Vietnam Automobile Manufacturers Association (VAMA) show that the local market excelled in July, posting a 20 per cent increase compared to June and up 88 per cent year-on-year. The popularity of the Mitsubishi Xpander returned, with it leading sales.
Indonesia has recently become a major supplier of motor vehicles to Vietnam. Imports from the country in September rose 66.4 per cent compared to August, according to the General Department of Vietnam Customs.
Demand for motor cars in Vietnam fell 32 per cent in July compared to June. This is the fourth consecutive month sales have declined, in both imported and locally-assembled vehicles. It is forecast that demand may fall even further in the time to come.
As of the end of 2020, Vietnam had more than 40 enterprises engaged in the production and assembly of motor vehicles, some of which have actively participated in global automobile production chains. The country’s total assembly capacity is 755,000 vehicles a year, of which the foreign-invested sector accounts for 35 per cent and local enterprises 65 per cent.
