Auto sales plunge in June

By Dat Nguyen   July 14, 2022 | 06:20 pm PT
Auto sales plunge in June
A Toyota Vios. Photo by VnExpress/Luong Dung
Auto sales plunged 57 percent in June to 25,159 units, ending three consecutive months of gains, as supply plummeted due to a shortage of parts.

Toyota, Ford and Mitsubishi dealerships pleaded a shortage of parts as their supply fell in Vietnam due to a global shortage of chips used to control everything from power trains to digital safety systems.

"Major brands make plans three or four months in advance to mitigate any supply issue that might occur," Vo Thanh Tai, Mitsubishi Vietnam's head of marketing, said.

"But if this shortage of parts persists, we won't get the expected sales."

TC Motor, which is not a member of the Vietnam Automobile Manufacturers Association (VAMA), said its June sales fell by 34 percent to 4,278 units and most of its models were affected by the shortage of parts.

Its factory in the northern province of Ninh Binh only managed to meet a fraction of demand, it said.

But in the first six months, sales of VAMA members were up 34 percent year-on-year to 201,840 units thanks to strong demand between March and May.

Truong Hai Auto Corporation (Thaco) led with sales at 74,480 units, up 44 percent year-on-year.

It was followed by Toyota (43,085 units) and Honda (20,191 units).

Mitsubishi and Ford made up the rest of the top five.

Last year, VAMA members’ sales had fallen by 8 percent to 296,634 units as the Covid-19 pandemic battered the economy, hitting people’s incomes and discretionary spending.

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