Vietnam's automobile sales double in Q1

Automobile joint ventures in Vietnam posted total sales of 12,183 vehicles in the first quarter of this year, doubling that of the same period last year, according to Vietnam News Agency on Friday.

In March alone, the country's automobile sales stood at 4,469 units, increasing 91 percent over last March, the agency quoted the Vietnam Automobile Manufacturers Association as reporting.

Between January and March, Toyota Vietnam kept on holding the biggest local market share, with 3,503 units sold, a year-on-year rise of 59 percent, followed by local bus and truck maker Truong Hai with 1,717 vehicles, up 82 percent.

The joint ventures, 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.

Vietnam with a population of over 83 million currently houses 13 automobile joint ventures with total registered capital of nearly 700 million U.S. dollars and combined annual capacity of 173,000 units.

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

Source: Xinhua