Auto sales rise 3rd month in a row
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Auto sales in Vietnam went up for the third month in a row with 30,846 units sold in August, up 247% from the low base in the same month last year. Sales were highest since May when over 43,800 units were sold, according to data from Vietnam Automobile Manufacturers Association (VAMA).
But it rose only 2% month-on-month, against 20% in July.
The most popular car sold in August was the MPV Mitsubishi Xpander at 2,842 units.
For the first eight months, 262,940 cars were sold in Vietnam, up 49.9% year-on-year.
Truong Hai Auto Corporation (Thaco) led in sales in the period at 93,347 units, up 54% year-on-year.
The three following brands, Toyota, Mitsubishi and Honda, all posted double-digit growth in sales.
Ford ranked fifth with a sales decline of 6.7%.
Questions & Answers
Q.What does the 247% increase in August sales signify, given the overall monthly trend?
What does the 247% increase in August sales signify, given the overall monthly trend?
The significant August rise is from a low base in the same month last year. Month-on-month, sales only increased by 2%, a considerable drop from the 20% growth seen in July.
Q.Did all major car brands experience sales growth in Vietnam during the first eight months?
Did all major car brands experience sales growth in Vietnam during the first eight months?
No, not all major brands saw growth. While Thaco, Toyota, Mitsubishi, and Honda all posted double-digit sales increases, Ford experienced a 6.7% decline in its sales.