Vietnam auto sale likely to reach 150.000 units in 2014

Auto sale in Vietnam in 2014 reached 137.602 units by the end of November. If the impressive result continues in December as the last 3 months, the market is likely to accomplish the target objective set at the beginning of the year.

November has been the 20^th consecutive month with sale growth, which will likely result in a 150.000 units yearly sale.

VAMA previously forecasted a yearly sale of 140.000 units in 2014. Up to now, with 137.602 units already sold, the forecast is very likely to happen and demonstrate a very stable month-over-month growth.

If the 150.000 cars-as-sale happens, the result will be a 36% growth compared to 2013. In 137.000 units sold, passenger car accounted 87.218 vehicles. Truck sale increased quite impressively as 2014 reached its ends but did not totally overwhelm passenger car’s sale as the previous year.

In term of locally assembled car (CKD) and CBU imported car, both showed strong growth with respectively 33% and 76% growth compared to the same period last year.

Month with 2^nd best sale in 2014

In November alone, auto industry sale reached 15.594 units including 10.068 passenger car and 5.886 trucks, up 9% and 3% respectively. Locally assembled vehicles reached 11.591 units (1% down compared to last month) while CBU import units raised its number to 4.363 units (37% up).

However, November was the month with 2^nd best sale in 2014 (only after September). The 1% decrease in passenger car sale was nothing to worry about. CKD’s monthly sale in November was also 2014’s 2^nd best.

Thaco and Toyota compete for the top spot

Of the 3 brands that currently lead Vietnam sale, Thaco and Toyota were already far ahead of Ford. Both recorded impressive growth with 30.8% for Toyota and 31.8% for Thaco. Both brands even had their highest sale in 2014 in November. Thaco with its Kia, Thaco Bus and VinaMazda brands all saw impressive growth, yet none could contribute as much as Thaco Truck – which accounted for nearly one half of Thaco’s sale in November.

Meanwhile, Toyota’s product line-up remained all strong with their appearances in every top 5 best-selling list. The addition of Corolla Altis 2014 and Vios 2014 resulted in demand exceeding supply. On the other hand, Fortuner and Innova still attracted quite a lot of customers.

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