VIETNAM: Sales jump 75% in January
New vehicle sales in Vietnam jumped by close to 75% to 7,363 units in January, from 4,217 units a year earlier, according to data released by the Vietnam Automotive Manufacturers Association.
The sharp improvement reflects more than anything weak year-earlier volume when sales were held back by the introduction of higher vehicle registration taxes and excise duties at the start of 2012. This encouraged many buyers to bring purchases forward into 2011 to avoid paying higher prices.
January’s market performance was more or less in line with last year’s monthly sales average. While central bank interest rates have come down significantly over the last 12 months, in line with falling inflation, the average vehicle buyer still struggles to obtain credit from banks.
Sales of passenger cars, MPVs and SUVs jumped by 85% to 4,845 units in January, from 2,618 a year earlier; while commercial vehicle sales rose by 56% to 2385 units, from 1,528. This does not include sales of Mercedes-Benz vehicles, which amounted to 133 units in January and which are reported independently by the German automaker.
Toyota led the market last month with 2,718 sales, an increase of 76% year-on-year; followed by Truong Hai, which assembles Kia cars and various commercial vehicles, with a 109% increase to 1,834 units. Ford leapt into third place after sales almost quadrupled to 690 units.
After being entertained for the last couple of weeks by Germany v France over Mercedes' choice of air conditioner refrigerant (colleague Simon Warburton has now learned so much about R134a v r1234yf h...
This QUBE report from just-auto provides a comprehensive overview of the global automotive safety systems sector, major suppliers, top 14 markets, technology trends and market size forecasts. Use this...
The battle over air conditioning refrigerant between Mercedes-Benz and France (more or less repping the EU) continued this week with neither side showing signs of backing down....
The analysts writing this report forecast Global Automotive Head-up Display market to grow at a CAGR of 28.61 percent over the period 2012-2016....
The media days for the 2013 Frankfurt Internationale Automobil-Ausstellung (IAA) are 10 & 11 September. Each of the following vehicles is a world premiere at the show....
South Africa's automotive employers body is warning of the impact on future export potential as more than 31,000 assembly line workers strike indefinitely next Monday (19 August), paralysing large swa...
Germany has until next Monday (19 August) to satisfy the European Commission (EC) it will conform to its refrigerant directive, with Brussels dangling the possibility it may launch "appropriate infrin...
- ANALYSIS: Hyundai axes Veloster, goes after Toyota
- Review of 2014 (1)
- ANALYSIS: Future models for North America - Part 2
- ANALYSIS: Future models for North America - Part 1
- THE WEEK THAT WAS: Bleak Christmas ahead for some
- Ford union to block "even a screwdriver" at Genk
- JLR research removes blind spots
- Genk mayor organises "loudest shift" as Ford exits
- NHTSA lists Ford, Jaguar and Porsche recalls
- Bye, Chrysler, hello FCA US