Hyundai leads in automobile sales in Vietnam last year - Illustrative image (Photo: topgear.com)
Hanoi (VNA) - Sales by members of the Vietnam AutomobileManufacturers’ Association (VAMA) fell 8 percent last year, to 296,634 units.
In December alone, 47,865 units were sold, up 31.6 percent month-on-month.Of these, 36,856 were passenger cars, up 28 percent; 10,673 were commercial vehicles,up 50 percent; and 336 were special-use vehicles, down 30 percent.
Sales of domestically-assembledvehicles stood at 29,382, up 25 percent, while 18,483 were imported cars, a month-on-monthincrease of 44 percent.
Analysts said the figures do not reflect overall consumption in the domestic automobilemarket as they exclude sales by manufacturers that are VAMA members, such asAudi, Jaguar, Land Rover, Mercedes-Benz, Subaru, Volkswagen, and Volvo.
The combined sales of TC Motor and VinFast, which are not VAMA members, reached 110,853units during the year. Combining the figures of VAMA, TC Motor and VinFast, 407,487 units were sold on the domestic market last year.
With 81,368 units sold, Hyundai from the Republic of Korea was the best-sellingbrand in Vietnam in 2020, followed by Toyota with 70,692, Kia 39,180, Mazda 32,224,VinFast 29,485, Mitsubishi 28,954, Ford 24,663, and Honda 24,418.
Analyst Nguyen Tuan from the Thien Phuc An company said many carmakersmay extend their policy of cutting registration fees by 50 percent to ෴mai🙈ntain sales./.
TC Motor has said that it will halt vehicle production in the northern province of Ninh Binh from April 1 to 15 over concerns of the COVID-19 pandemic.
The Thanh Cong Group and Hyundai Motor on May 12 presented 10 ambulances worth 10 billion VND (429,000 USD) to medical clinics on the frontlines of the COVID-19 fight.
The Huyndai Vietnam Shipbuilding Co.Ltd based in the central province of Khanh Hoa built and handed over 119 oil carriers weighing 35,000 – 87,000 tonnes to clients, earning a revenue of nearly 4 billion USD since 2008.
Customers have scrambled to buy automobiles before the end of 2020 to enjoy the 50 percent reduction in registration fees, making the auto market more robust as compared to the situation at the outset of the year.
Sales of automobiles in November went up 9 percent against the previous month to 36,359 vehicles, according to Vietnam Automobile Manufacturers’ Association (VAMA) said on December 10.
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The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.