Over twenty thousand cars sold in October showing a rebound in the market

According to the Vietnam Automobile Manufacturer’s Association (VAMA)’s report, a total of 21,868 automobile units, including 15,498 completely knocked down (CKD) automobile and 6,370 completely built-up (CBU) cars, were sold out in October 2017.

Accordingly, sales of passenger cars and commercial vehicles reached 12,012 units and 8,968 units respectively, three per cent higher than September, with people living in the north and the south of Vietnam in Hanoi and Ho Chi Minh City with higher income being shown to invest more money on cars than people in the central Vietnam.

However, the total revenue of Vietnam automobile industry in the first 10 months of this year decreased by nine per cent compared to the same period of last year due to the decrease in sales of all kinds of vehicle. Specifically, sales of passenger cars in first ten months of 2017 was 126,819 units, ten per cent lower than the same period of last year. Also, only 11,032 special-purpose cars were sold out in first ten months of this year, an 18 per cent decrease year-on-year.

By the end of October 2017, sales of CKD vehicles was 157,221 units, 14 per cent lower than the same period of last year while CBU experienced a six per cent year-on-year increase.