Business
Vietnamese auto manufacturer surpasses Toyota
  • | VCTV, dtinews.vn | April 15, 2011 04:52 PM

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Vietnam’s Truong Hai Auto Joint Stock Corporation (Thaco) surpassed Toyota in domestic auto sales in March for the first time.

Vietnam Automobile Manufacturers Association (VAMA) said in a monthly report that, in March, Truong Hai sold 3,085 units, up 29.9% from a year ago, bringing its market share to 32.4%. In February it was at just 23.8%.

Meanwhile, Toyota’s sales were reported at 2,357 units, reducing its market share to 24.8%, from 28.2% in February.

Thaco’s surge in March sales is due to the sales of 2,000 commercial autos, including buses and trucks.

It may be difficult for Toyota to maintain its sales in April because of technical problems in certain models, such as Innova and Camry.

First Quarter auto sales jump 30% on-year

The number of cars sold in March alone increased 1% from a year earlier to 9,513, raising the total car sales in the first quarter to 27,896, up 30% on-year, according to the VAMA’s report.

The report did not contain figures from Vietnam Motors Industry Corporation (Vinamotor).

Among those, the sales of commercial vehicles saw a rise of 16%, MPVs were up 34% and passenger cars were up by 47%.

According to the General Statistics Office of Vietnam, the country imported 14,750 assembled cars, valued at USD262 million, in the first three months the year, up 54.8% on year by volume and 62.2% higher by value.

Vietnam spent USD734 million to import cars and car parts in the first quarter, up 20.3% from last year.

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