return icon

Vietnam's auto market filled with gloom despite falling prices

Hopes of a big rise in car sales in October thanks to a steep drop in prices and the rollout of new models have been dashed, spreading more gloom about the sector’s health.


A corner of the Vietnam Motor Show 2019



The Vietnam Automobile Manufacturers’ Association (VAMA) said on November 11 that total car sales in October reached 28,948 units, a slight increase of 4.3 percent compared to September but much lower than the rest of the year.

Of the total number, sales of passenger cars inched up 2 percent to 21,355 vehicles, while figures for commercial and special-purpose vehicles leaped 11 percent and 14 percent to 7,228 and 365, respectively.

Some 16,406 domestically-assembled cars were sold, falling 3 percent month on month, while sales of imported units climbed 16 percent to 12,542.

Toyota continued to lead sales with 7,216 vehicles, followed by Misubishi (3,566 units), Ford (3,114 units), and Honda (3,058 units).

A series of promotions were offered by dealers during October, but experts said they were not attractive enough to entice customers.

Even the Vietnam Motor Show 2019 which took place at late October was unable to have a major impact, with visitors merely browsing the latest models and advanced technologies.

Experts believe the Vietnamese automobile market will rev up at the end of the year and the beginning of 2020 as the Lunar New year nears and demand for cars is high.

During January-October, VAMA members sold a total 259,282 units, a year-on-year increase of 16 percent.

However, the sales figures did not reflect the country’s entire automobile market as they did not include sales of other manufacturers that are not VAMA members. For example, TC Motor sold 7,737 units in October, increasing its total sales in the first ten months to 63,210 units.

Meanwhile, several VAMA members such as Audi, Jaguar, Land Rover, Mercedes-Benz, Subaru, Volkswagen, Volvo and VinFast did not announce their sales figures or did not send sales reports to VAMA./.VNA

Vietnamese automobile manufacturers focus on importing cars, neglect production

Vietnamese automobile manufacturers focus on importing cars, neglect production

In the first half of the year, the number of cars imported to Vietnam increased by 500 percent, while some models saw a sharp increase of 650 percent compared with the same period last year.

Vietnam’s $20 billion automobile market at risk of decline

Vietnam’s $20 billion automobile market at risk of decline

If supporting industries cannot develop and automobile joint ventures continue importing car parts for assembly, Vietnam’s automobile industry will not survive after 2025, analysts say.



Thaco subsidiary exports car seat covers to RoK

Da Nang strives to develop itself into ‘liveable’ city

With stable growth in the economy, infrastructure, urban management, tourism and investment attraction, the central city of Da Nang is challenging to develop into a ‘liveable’ city of regional and global status.

Vietnam to replant 107,000ha of coffee by 2025

Vietnam aims to replant or transplant about 107,000ha of coffee in the 2021 – 2025 period, according to the Ministry of Agriculture and Rural Development (MARD).

PM urges faster COVID-19 vaccination in face of sub-variant BA.5

Prime Minister Pham Minh Chinh has ordered faster administration of the third and fourth doses of COVID-19 vaccine as part of measures against the unpredictable pandemic situation, especially when the sub-variant BA.5 has appeared in Vietnam.

Meet Vietnam comes to UK’s Nottingham to promote trade, investment

The VN Trade Office in the UK and the British importer of oriental food EUTEK Group has hosted Meet Vietnam in Nottingham to introduce Vietnamese products and promote opportunities for trade and investment between the two sides.

CAAV asked to tackle high rates in flight delays, cancellations

CAAV said late-arriving aircraft was the main cause of delays in addition to other excuses, such as poor management and bad weather.


Italian media spotlight Vietnam’s economic ties with Europe, human rights achievements

Typhoon Chaba not hit Vietnam, weakens to tropical depression

Typhoon Chaba weakened into a tropical depression on July 3 morning, moving north of northwest with its eye located in the south of China’s Guangxi province, which borders northern Vietnam.

Da Nang aims to attract ultra-wealthy

A livable city is certainly worth visiting, but a place worth visiting doesn’t mean it is livable. Da Nang City is striving to become a livable city and a destination for the ultra-wealthy.

Fake news, malicious information spread mostly via Google, Facebook

Some foreign companies providing cross-border services to Vietnam are still not preventing malicious information on their platforms.

Ministry proposes cuts to VAT, luxury taxes to help lower petrol prices

The Ministry of Finance (MOF) has submitted to the Prime Minister a plan to reduce the luxury tax and VAT on petroleum products in an effort to curb prices.

'Hop on Hop off' with Tinder Explore this summer

For the first time, young Tinder users joined an iconic double-decker bus ride, “Tinder Explore - Match Your Vibe bus", to explore exciting dating spots in HCM City.

Five local destinations win Asia’s Best Awards

Five Vietnamese destinations were named among the Top 10 leading cities and islands in the Southeast Asian region, as announced by US magazine Travel + Leisure’s Asia’s Best Awards 2022.

Vietnam to export passion fruits to China from July 1

The General Administration of Customs (GAC) of China has just approved the pilot import of Vietnamese passion fruits from July 1, according to the Vietnam Sanitary and Phytosanitary Notification Authority and Enquiry Point (SPS Vietnam).

The Moffatts and 911 schedule Hanoi performance

Some of the world’s leading bands, including The Moffatts and 911, are set to play a concert at Yen So Park-Gamuda Land in Hoang Mai district of Hanoi on August 6.