Monday, September 10, 2007

Vietnam's automobile sales surge in first 8 months

Automobile joint ventures in Vietnam posted total sales of 41,557 vehicles in the first eight months of this year, up 80 percent over the same period of last year, according to a local industrial association on Monday.

In August alone, the country's automobile sales stood at 6,557 units, increasing 73 percent over last August, said the Vietnam Automobile Manufacturers Association.

Last month, Toyota Vietnam kept on holding the biggest local market share, with 1,796 units sold, followed by local bus and truck maker Truong Hai with 909 vehicles.

Automobile joint ventures in Vietnam, sole producers of cars and main makers of other kinds of automobiles in the country sold 39,876 vehicles in 2006, down from 40,853 in 2005, said the association.

Last year, Vietnam with a population of about 84 million housed 13 automobile joint ventures with total registered capital of nearly 700 million U.S. dollars and a combined annual capacity of 173,000 units.

Besides, the country had dozens of local enterprises specializing in producing automobile parts and assembling simple vehicles.