Automobile market shows optimism

According to the General Statistics Office, automobile and spare part imports had strongly increased in the first seven months of this year, reaching US$3.4 billion, an increase of 88 percent over the same period last year.
Noticeably, the number of automobiles imported into Vietnam rose to 65,000, worth more than $1.72 billion, up 107.7 percent in volume and 154.4 percent in value compared to the same period last year. Of which, more than 22,000 cars are less-than-9-seater vehicles with import turnover of $261 million, up 61 percent in volume and 57 percent in value over the same period last year. Vietnam mainly imports cars from China, Japan, South Korea, Thailand, and India.
Automobile consumption has also improved robustly. According to the Vietnam Automobile Manufacturers Association, sales of automobiles by the end of July this year climbed by 59 percent compared to the same period last year with passenger buses surging 45 percent, commercial vehicles rallying 76 percent, and specialized vehicles jumping 128 percent.
Sales of domestically-assembled automobiles increased 56 percent while that of imported ones shot up 67 percent.
It is forecast that automobile consumption will hit 200,000 vehicles for the whole year as automobile consumption usually improves by year end.

By Lac Phong – Translated by Thuy Doan

Other news

Most view


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


185 leading domestic & in't enterprises join in VN ETE 2018

The Vietnam Exhibition of Electrical Technology and Equipment (Vietnam ETE 2018) and the Exhibition of Products, Technologies for Energy Saving and Green Power (ENERTEC EXPO 2018) yesterday kicked off in HCMC’s Saigon Exhibition Convention Center in district 7.

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

SAS profits VND 118bln

The Southern Airports Service Joint Stock Company (Sasco) which is listed under code SAS on the Unlisted Public Company Market (UPCoM), announced its second quarter’s financial report with net revenue at VND 634.5billion, an increase of 14 percent compared to last year.