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Business

Auto sales reach 20-year high

Released at: 20:00, 12/01/2017

Auto sales reach 20-year high

Photo: Viet Tuan

Sales increase 24% in 2016 to their highest level in two decades.

by Nguyen Quoc

The total number of automobiles sold in 2016 by members of the Vietnam Automobile Manufacturers Association (VAMA) reached 304,427 units, up 24 per cent against 2015 and the highest in 20 years, the association announced on January 11.

Sales in December alone stood at 33,925 units, up 17 per cent from November, of which 23,565 vehicles were assembled locally and 9,730 were imported.

Sales of locally-assembled vehicles increased 32 per cent in 2016 as a whole while sales of imported vehicles rose 5 per cent.

Among VAMA members, the Truong Hai Auto Corporation (Thaco) accounted for the largest market share last year, of 41.5 per cent, with 112,847 vehicles sold, while Japan’s Toyota sold 57,036 units, for a 21 per cent market share, and Ford Vietnam 29,011, for 10.7 per cent.

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