Automobile sales in Vietnam can set new record in 2019

Vietnam's automobile market is expected to set a new sales record this year with sales of the Vietnam Automobile Manufacturer Association (VAMA) members and TC Motors averaging nearly 32,000 cars each month in January-September.

Automobile sales in Vietnam can set new record in 2019

Customers at a Honda auto showroom in Ha Noi. VAMA reported that its members sold 230,334 cars in the first nine months of 2019. — Photo hondaoto-giaiphong.vn

VAMA reported on Thursday its members sold 230,334 cars in the first nine months of 2019, a year-on-year rise of 18 per cent.

Sales of passenger cars rose by 30 per cent to 168,994 units, while commercial and special-purpose vehicles dropped by 3 per cent and 27 per cent respectively, to 57,523 and 4,117 units, according to the VAMA.

Besides VAMA members, such brands as TC Motor, Audi, Jaguar, Land Rover, Subaru, Volkswagen and Volvo are also present in Viet Nam.

 

TC Motor, for example, sold a total of 55,473 vehicles of all kinds in January-September.

From now to the year’s end, the automobile market is expected to see more than 384,000 vehicles sold, far exceeding the figure of 2018 (nearly 290,000) and the record of 304,000 units in 2016. — VNS

Thai autos flooding Vietnamese market

Thai autos flooding Vietnamese market

CBU (complete built unit) imports from Thailand account for more than 50 percent of total car imports and turnover in the first eight months of the year, according to the General Department of Customs (GDC).

Vietnam to top Asia auto sales amid fall of biggest markets

Vietnam to top Asia auto sales amid fall of biggest markets

The rising vehicle imports are posing huge competitive pressure on domestically-produced vehicles.

 
 

Other News

.
Plastic packagers looking to Vietnam
Plastic packagers looking to Vietnam
BUSINESSicon  14/02/2020 

The unfavourable prospects of the Thai packaging industry, dimmed by the ban on single-use plastic bags in the country, may force packaging manufacturers to shift business to nearby markets like Vietnam.

Foreign investors look forward to Vietnam’s imminent IPOs in 2020
Foreign investors look forward to Vietnam’s imminent IPOs in 2020
BUSINESSicon  14/02/2020 

Nearly 100 Vietnamese companies will need to hit the road for share auctions by the end of 2020 to meet the government’s target of privatizing state firms.

PM Phuc allows border gates to re-open
PM Phuc allows border gates to re-open
BUSINESSicon  14/02/2020 

Prime Minister Nguyen Xuan Phuc approved the resumption of imports, exports and transport of goods through three sub-border gates between Vietnam and China to help local firms.

VN industrial sector’s growth likely to slow down due to COVID-19
VN industrial sector’s growth likely to slow down due to COVID-19
BUSINESSicon  14/02/2020 

Growth of Vietnam’s industrial sector is likely to slow down in the first quarter of 2020 due to negative impacts from the acute respiratory disease caused by a novel coronavirus (COVID-19), according to the General Statistics Office (GSO).

VN to issue lists of preferential tariffs under EVFTA
VN to issue lists of preferential tariffs under EVFTA
BUSINESSicon  14/02/2020 

The Vietnamese Government is set to issue a decree on the lists of preferential export tariffs and special preferential import tariffs to implement the EU-Vietnam Free Trade Agreement (EVFTA) when the deal comes into force in Vietnam.

New driving force for Vietnam-EU relations
New driving force for Vietnam-EU relations
VIDEOicon  14/02/2020 

The European Parliament has ratified the EVFTA and the EVIPA. The ratification has opened up new horizons for more intensive, comprehensive and effective bilateral cooperation 30 years after the establishment of diplomatic ties.

Two scenarios for Vietnam’s economic growth
Two scenarios for Vietnam’s economic growth
BUSINESSicon  15/02/2020 

If the nCoV epidemic lasts a long time, the GDP is expected to decrease.

BUSINESS NEWS HEADLINES FEB. 14
BUSINESS NEWS HEADLINES FEB. 14
BUSINESSicon  14/02/2020 

Large retail formats to dominate HCM City’s retail market

Vietnam says to ratify EVFTA in May
Vietnam says to ratify EVFTA in May
BUSINESSicon  13/02/2020 

The EVFTA will be ratified in May and take effect in July this year if everything fares well, said Minister of Industry and Trade Tran Tuan Anh.

Japanese firm to attract Vietnamese workers via football
Japanese firm to attract Vietnamese workers via football
BUSINESSicon  14/02/2020 

Japanese electronic device maker Lion Power is tapping into football’s popularity in Vietnam as a way to recruit technical trainees amid a labour shortage in Japan, reported the Asian Nikkei Review.

COVID-19: Mong Cai completes preparations to resume border trade
COVID-19: Mong Cai completes preparations to resume border trade
BUSINESSicon  13/02/2020 

Mong Cai city in Quang Ninh has basically completed preparations to resume trade through the Mong Cai International border gate, after a suspension due to the outbreak of coronavirus (COVID-19).

BUSINESS NEWS HEADLINES FEB. 13
BUSINESS NEWS HEADLINES FEB. 13
BUSINESSicon  13/02/2020 

Ministries seek new export markets for farm produce

EVFTA, EVIPA unleash market potential for European firms
EVFTA, EVIPA unleash market potential for European firms
BUSINESSicon  13/02/2020 

The EU-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement offer significant business opportunities for European enterprises, German Federal Minister for Economic Affairs and Energy Peter Altmaier said.

VN’s GDP growth to reach 6.25 percent if COVID-19 outbreak is contained in Q1
VN’s GDP growth to reach 6.25 percent if COVID-19 outbreak is contained in Q1
BUSINESSicon  13/02/2020 

Vietnam’s gross domestic product (GDP) growth is expected to reach 6.25 percent in 2020 if the outbreak of coronavirus disease (COVID-19) is contained within the first quarter of this year, according to the Ministry of Planning and Investment.

WB’s new strategy helps Vietnam better utilise solar power
WB’s new strategy helps Vietnam better utilise solar power
BUSINESSicon  13/02/2020 

The World Bank (WB)’s new approaches to bidding and deployment for solar projects will help Vietnam substantially boost and effectively manage its abundant solar energy resources.

Local airlines sustain coronavirus-triggered loss of VND10 trillion
Local airlines sustain coronavirus-triggered loss of VND10 trillion
BUSINESSicon  13/02/2020 

Local carriers had incurred total losses of over VND10 trillion as of February 10, Tuoi Tre reported, citing the head of the Civil Aviation Authority of Vietnam (CAAV) Dinh Viet Thang.

Foreign ownership cap yet to be applied at payment intermediaries
Foreign ownership cap yet to be applied at payment intermediaries
BUSINESSicon  13/02/2020 

The State Bank of Vietnam (SBV) has removed a regulation capping foreign ownership at 49% for local payment intermediaries from a draft decree on noncash transactions.

Over 36 tons of masks exported amid local virus scare
Over 36 tons of masks exported amid local virus scare
BUSINESSicon  13/02/2020 

More than 36 tons of face masks was shipped overseas from HCMC within one week even though the domestic market is falling short of the product and the Government is finding ways to shore up mask supplies.

Prices of goods under State watch should be kept unchanged to curb inflation: GSO
Prices of goods under State watch should be kept unchanged to curb inflation: GSO
BUSINESSicon  13/02/2020 

The Government should not raise the prices of any products under its management, especially medicines, fuels and electricity, in the first half of 2020 to keep the full-year inflation rate under control, stated the General Statistics Office.

EU lawmakers approve free trade deal with Vietnam
EU lawmakers approve free trade deal with Vietnam
BUSINESSicon  13/02/2020 

The European Parliament (EP) on February 12 ratified the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA).

 
 
 
Leave your comment on an article

OR QUICK LOGIN