Auto market to continue growing: experts

Illustrative image (Source: Kia)

The domestic auto market is expected to grow further in the remaining months of this year after expanding up to 120 percent in October, experts have said.

The Vietnam Automobile Manufacturers’ Association (VAMA) said on November 16 that vehicle sales of its members reached 29,797 last month.

Of the total sales, there were 19,865 passenger cars, up 138 percent month on month; 9,492 commercial vehicles, up 94 percent; and 404 specialised vehicles, up 45 percent.

In terms of origin, the sales of domestically assembled and imported cars hit 15,344 units and 14,453 units, increasing 110 percent and 132 percent compared to September, respectively.

The association attributed the impressive rise to COVID-19 prevention and control measures rolled out by the Government.

In the first 10 months of this year, the total sales of VAMA members reached 218,734 vehicles of all types, up 3 percent from the corresponding time last year.

Experts said the January-October sales did not fully reflect the entire Vietnamese car market because the brands of Audi, Jaguar Land Rover, Mercedes-Benz, Subaru, Volkswagen, and Volvo did not disclose their figures.

Looking at the sales of automobile brands in Vietnam last month, Hyundai secured the first place. It was followed by Toyota, Kia, Ford, VinFast, Mazda and Honda./.