Vietnam’s Automobile Sales Results in the First Half of 2024

Vietnam’s automobile sales in the first six months of 2024 increased 2.3% year-on-year to 181,012 units (this figure combines data of Vietnam’s automobile manufacturer association VAMA, which only releases data on member companies, and those of two non-VAMA members Hyundai Thanh Cong Vietnam, a local subsidiary of Hyundai, and VinFast, a Vietnamese manufacturer. Imported vehicles (67,035 units, an increase of 16.0%) and VinFast (21,747 units, an increase of 86.9%) contributed to the market recovery. On the other hand, sales of vehicles assembled from imported CKD kits decreased by 14.7% to 67,849 units. In July 2024, the government was scheduled to introduce a measure for reducing registration fees by 50% on CKD vehicles, which caused people to refrain from buying in the first half of the year.