Vietnam market welcomes 56,000 new cars in March

The report of the General Statistics Office has just been released, showing that the number of vehicles domestically produced and assembled cars March 2022 was estimated at 42,500 units, up 40.7% over the previous month and up 11.8% over the same period in 2021.

Thanks to the growth in output in March, the total number of cars manufactured and assembled in the country in the first quarter was estimated at 109,300 units, up 13.4% over the same period last year.

The number of cars shipped domestically in March 2022 increased by more than 40% compared to the previous month. (Photo: THACO-Mazda)

Also according to the General Statistics Office, not only has the number of domestic cars increased, but the past month has also witnessed a strong increase in the number of vehicles sold in the country imported cars. Specifically, a total of 13,500 CBU cars were imported to Vietnam in March, with a turnover of 307 million USD. This is equal to January and February combined.

In total, in the first quarter, Vietnam imported an estimated 27,190 cars with a turnover of 645 million USD. The average single-unit value of imported cars in the first three months of the year was about $23,700/unit. Compared to the first quarter of last year, imported cars decreased by 22.9% in volume and 20.6% in value of turnover.

Both imported cars and domestically produced cars increased sharply in March.

Thus, in March alone, the total number of domestically produced and imported cars in Vietnam was estimated at 56,000 units. For the whole first quarter, this figure is estimated at 136,490 units, up 3.7% over the same period last year.

According to experts, with the opening of the market after a long time of the epidemic, abundant supply and many new car models continuously launching, 2022 promises to be an impressive year of growth for car market Vietnam.

Royal Union

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