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Vietnam's automobile market regains sales in March

0 Comment(s)Print E-mail Xinhua, April 15, 2024
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HANOI, April 15 (Xinhua) -- The Vietnam's automobile market saw a remarkable breakthrough in its total sales after several months of declines with 27,289 units sold in March, up 135 percent against February, Vietnam News Agency reported Monday.

However, the figure was still 9 percent lower than the sales recorded in March 2023, said the Vietnam Automobile Manufacturers' Association.

The total sales of the association's members reached 58,165 units in the first quarter, down 17 percent year-on-year.

Of the total, that of passenger cars declined by 21 percent, commercial vehicles by 6 percent, and special-purpose ones by 48 percent.

The sales of domestically assembled cars reached 30,919 units, down 20 percent during the cited period, while imported cars were 27,246, down 14 percent compared to the same period last year.

According to the association, an abundant supply, combined with the launch of new models and the adjustment of prices to benefit customers, is expected to help the market enter a period of prosperous business and well recover in the rest of 2024.

Last year, the association's members sold over 300,000 units in 2023, a sharp drop of 25 percent year on year. Enditem

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