The auto market continues to crash with no brakes.

According to Vietnam Automobile Manufacturers’ Association (VAMA), total sales volume of VAMA’s members within the first month of 2012 reached 4,274 units, a strong decrease 60 per cent or 10,424 units in comparison with January 2011.

Of which, sport utility vehicle (SUV), multi-purpose vehicle (MPV) and the cross-over segment strongest decreased 67 per cent, followed by commercial vehicles with a 59 per cent decrease.

Toyota Motor Vietnam last month only sold 1,542 assembled cars in January, much lower than that in previous years with 3,057 cars and 2,212 cars in January of 2011 and 2010.

Not only assembled cars, its imported vehicles demonstrated a poor performance with nearly 300 cars sold last month. Similarly, Mercedes-Benz Vietnam last year generated an impressive year-on-year growth of 23 per cent, posting an all time high volume of 2,246 passenger cars, according to the company’s announcement. But a month later, in early 2012, it recorded a slump of only 59 vehicles sold compared to 232 cars sold in January 2011.

Source: VIR