Car market increase in year-end

Sales of automotive industry in Vietnam are in a vicious spiral in 19 months and it is estimated that as many as 150,000 vehicles will be sold in 2014.

Along with the growth in sales, many types of imported and domestically assembled cars are available for choosing in the yearend shopping season. Truong Hai Auto Corporation (Thaco) launched four types of vehicles including Peugeot 208, 3008, 508 and RCZ at a cost of around VND1 billion (US$ 46,839). It also introduced a fleet of middle-ranking cars including Kia Morning Si, Kia Rio sedan and Kia Rondo.

LEXUS Vietnam also introduced GX460 2015, the full-capability premium SUV with Lexus amazing services, in Vietnam, costing VND3.7 billion.

According to representative from Lexus Vietnam, though car market in Vietnam is not really developed, the company planned to sell over 300 cars in the country in 2014 for the luxury segment.
Toyota Vietnam also presented its new types of cars including Fortuner, Vios, Yaris , Corolla Altis and Hybris FT-Bh which use environmentally friendly technology.

Generally, in the first ten months of the year, Vietnamese customers bought 121,648 vehicles. The figure showed an increase of 40 percent in comparison with the same period last year. Thaco leaded the first with 32,883 vehicles, a surge of 40 percent; Toyota with 31,919 cars, a leap of 20 percent; Ford with 10,786 cars, an increase of 69 percent and Honda with 5,259 cars, a rise of 66 percent.

Jesus Metelo N. Arias, president of the Viet Nam Automobile Manufacturers Association (VAMA) said that the market shows every sign of making a strong recovery. Only in October, 2014, nearly 15,000 vehicles were bought, an increase of 45 percent in comparison the same period last year. It is forecast that 150,000 vehicles would be sold, which manifested an increase of 36 percent compared last year.

According to the figure reported by the General Customs Department, in ten past months, the country imported 51,600 cars, posting an increase of 96.4 percent compared to the same period last year. Most of imported cars are 9-seater cars with 22,800 vehicles.

By Lac Phong - Translated by Uyen Phuong

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