According to a report from the Vietnam Automobile Manufacturers Association (VAMA), in February, the association’s members sold a total of 11,633 vehicles, a 40% decrease compared to the previous month and a significant 50% decrease compared to the same period last year.
Specifically, VAMA members sold 8,099 passenger cars, a 45% decrease from the previous month; commercial vehicles with 4,478 units, a 21% decrease; and specialized vehicles with 56 units, a 48% decrease.
However, the sales of domestically assembled vehicles decreased less than imported vehicles. Specifically, the consumption of domestically assembled vehicles reached 6,662 units, a 32% decrease, while the sales of imported vehicles decreased significantly by 47% with 4,971 units sold.
Auto purchasing power declines significantly
According to the report from VAMA, many models did not sell any units in February, such as the Suzuki Ciaz, Toyota Granvia, Toyota Land Prado, Toyota Innova Cross gasoline engine variant, Honda Odyssey, and Honda Civic TypeR.
Some other models had sluggish sales, with only a few units sold, such as the Toyota Yaris with 1 unit sold, Toyota Alphard with gasoline engine sold 5 units, and Isuzu mu-X sold 6 units…
Competing models in the same segment had low sales, such as the Honda Accord which sold 12 units in February (compared to 8 units in the previous month), Mazda 6 sold 18 units (compared to 50 units in January), while the Toyota Camry performed better with 67 units sold (compared to 75 units in January).
