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Vietnam: YTD June 2020 Sales Declined To 107,000 Units, Import Volume Also Dropped
According to Vietnam Automobile Manufacturers Association (VAMA), automobile sales from January to June in 2020 fell by 30.6% year-on-year to 107,000 units. Countermeasures against the new coronavirus and an economic slowdown due to the pandemic caused a serious fall. Hyundai Thanh Cong Vietnam (HTCV), which is not a member of VAMA, reported its sales dropping by 21.6% to 28,000 units. In total, the automobile sales volume in Vietnam was 135,000 units, which is 28.9% down year-on-year.
Based on the data from VAMA and HTCV, Hyundai had the most market share in the first half of 2020. This is Hyundai’s first time to become the market leader ever since it launched the local subsidiary HTCV in 2017. On the other hand, the sales volume of the former leader Toyota/Lexus decreased by 31.8% to 26,000 units. The 3rd place Kia increased its market share with a newly launched Soluto in September 2019.