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Car sales edge up on low demand
2012-0316
Members of the Vietnam Automobile Manufacturers Association (VAMA) reported a month-on-month increase in sales in February but the level is still gloomy.
VAMA members last month sold 6,116 vehicles, increasing 1,842 units month-on-month but falling 25% year-on-year.
Compared to the year-ago performances, sales by all VAMA members dropped in all segments. In particular, as for commercial automobile segment, its members sold more than 3,000 units in February, a 20% year-on-year decrease.
Sales of multi-purpose cars fell 38% to 1,187 units and that of passenger cars slowed to 1,778 units, a 28% drop.
Market leaders reported sharp fall in sales. Toyota sold 1,646 vehicles in February, down 17% from January, while Ford Vietnam sold 216 units, tumbling by 62% month-on-month. GM Vietnam had a 20% drop from a month before with sales of 534 vehicles.
Meanwhile, smaller carmakers on the local market made better performances compared to the previous month. For instance, Mitsubishi in February sold 66 units under VinaStar brand, up 16%, while Suzuki obtained a 34% increase with 360 units of Visuco.
Similarly, Isuzu Vietnam sold 71 units, overshooting by 151% from the preceding month, and Vinaxuki sales edged up 7% to 592 units.
A fall in all car segments sales was attributed to a sharp consumption slowdown since buyers had purchased vehicles ahead of Lunar New Year holiday when high taxes and fees had yet to be applied.
Despite the fact that car sales inched up compared to a month ago, a number of car makers forecast the slump will go down further till the middle of this year given increased registration fees and credit tightening from banks.
In all, the country consumed 10,390 cars in Jan- Feb from VAMA members, showing a 44% year-on-year decrease.
VAMA members last month sold 6,116 vehicles, increasing 1,842 units month-on-month but falling 25% year-on-year.
Compared to the year-ago performances, sales by all VAMA members dropped in all segments. In particular, as for commercial automobile segment, its members sold more than 3,000 units in February, a 20% year-on-year decrease.
Sales of multi-purpose cars fell 38% to 1,187 units and that of passenger cars slowed to 1,778 units, a 28% drop.
Market leaders reported sharp fall in sales. Toyota sold 1,646 vehicles in February, down 17% from January, while Ford Vietnam sold 216 units, tumbling by 62% month-on-month. GM Vietnam had a 20% drop from a month before with sales of 534 vehicles.
Meanwhile, smaller carmakers on the local market made better performances compared to the previous month. For instance, Mitsubishi in February sold 66 units under VinaStar brand, up 16%, while Suzuki obtained a 34% increase with 360 units of Visuco.
Similarly, Isuzu Vietnam sold 71 units, overshooting by 151% from the preceding month, and Vinaxuki sales edged up 7% to 592 units.
A fall in all car segments sales was attributed to a sharp consumption slowdown since buyers had purchased vehicles ahead of Lunar New Year holiday when high taxes and fees had yet to be applied.
Despite the fact that car sales inched up compared to a month ago, a number of car makers forecast the slump will go down further till the middle of this year given increased registration fees and credit tightening from banks.
In all, the country consumed 10,390 cars in Jan- Feb from VAMA members, showing a 44% year-on-year decrease.
Source: SGT
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