Asia Finest Discussion Forum > Vietnam Car Sales Double

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Byron

Apr 9 2007, 10:14 PM

While it's nice to see more and more Vietnamese making a lot of earnings from the stock market, and buying those overpriced cars, lets just hope that the government starts being serious in upgrading the traffic infrastructure to keep up with this demand in car sales.

http://www.industryweek.com/ReadArticle.aspx?ArticleID=13916

QUOTE

Vietnam Car Sales Double
Passenger car sales were up 235% from 2006.

By . Agence France-Presse

April 9, 2007 -- Car sales in Vietnam doubled in the first quarter of the year, the Vietnam Automobile Manufacturers' Association (VAMA) said April 6. Large gains from the country's booming stock market drove the growth, a VAMA official said, which reported a total of 12,183 vehicles sold between January and March, compared to last year's figure for the same period of 6,091.

Leading the surge were passenger cars, up by 235%, from 829 units in the three-month period last year to 2,774 this year. For the month of March alone, car sales were up 91% year-on-year, from 2,334 to 4,469 units, the association said.

"Many people who earned huge money from trading securities ordered cars in January before the Tet traditional lunar new year festival, and they could only receive their cars this month," a VAMA official said.

Ho Chi Minh City's benchmark VN Index has outperformed every other stock exchange in Asia, with a growth of nearly 145% last year and about 40% this year. VAMA has 18 members, of which 11 are foreign funded.

Copyright Agence France-Presse, 2007

i3ig_iviac

Apr 10 2007, 12:40 AM

why the fu-k would anyone want to drive a car in vietnam? its already crowded and polluted as fu-k already.

shaitan1

Apr 10 2007, 12:45 AM

QUOTE(i3ig_iviac @ Apr 10 2007, 12:40 AM)

why the fu-k would anyone want to drive a car in vietnam? its already crowded and polluted as fu-k already.

Agreed.

"Leading the surge were passenger cars, up by 235%, from 829 units in the three-month period last year to 2,774 this year."

Also, if by unit then they mean 1 car sold. Then out of a population of 80 million then that isn't anything worth headlining.

ntn1987

Apr 10 2007, 10:55 PM

great! more traffic jams and pollution!
A lot of people in VN i know drives car to SHOW OFF their weath.
With the current traffic situation in VN at the moment, i can walk and run faster than a car.
We need a public transport system that is TOKYO-like or PARIS-like.

Monguliansoup

Apr 10 2007, 11:13 PM

I guess it's a good thing for the economy to steadily grow. Hopefully they can find a way to manage their vehicles WHILE maintaining their environment.....

02tonyl

Apr 11 2007, 03:52 AM

Ya I went back to Vietnam a year ago and the amount of motorbikes i saw was out of my imagination. I was on the taxi (from the airport) and the taxi was struggling so hard to get through the army of motorbikes.The taxi driver was pressing the horn every 3 seconds, and he told us that " We cannot drive a car in Saigon without a working horn".Bicycles are now almost invisible in Saigon now , the motorbikes now becomes a dominant force, and I am pretty sure it will take really long before we can see a saigon full of cars but that is not a bright future to look forward to considering the amount of smoke, pollution generated by the motorbike's exhausts, it is already horrible so u can imagine a the amount of smoke and pollution that can be generated by cars. I think the government has done an ok job by putting up more traffic lights, well i could see a lot of traffic lights now compared to 5 years ago.But i believe there are more that they can do.

Thank you for reading

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