Business News
Mercedes Benz leads Vietnam auto sales growth
Jan 15, 2009, 3:03 GMT
Hanoi - German carmaker Mercedes Benz' sales in Vietnam rose 70 per cent in 2008 despite a slowdown in the country's economy in the second half of the year, the company's local director said Thursday.
'Considering the tough market conditions in the second half of 2008, this is a very good result,' said Mercedes Benz Vietnam General Director Udo Loersch.
Overall sales rose to 2,119 units, led by 1,146 sold units of the 16-seat Sprinter van. Loersch said the Sprinter is the leading choice for guest transportation by premium hotels, a sector which has grown sharply in Vietnam over the past two years.
Car sales in Vietnam grew 37 per cent from 2007 to 2008, according to Ngo Van Tru of the Ministry of Industry and Trade, reaching over 110,000 vehicles. Market leader Toyota saw sales rise 20 per cent to 24,421 units.
But Tru said sales will likely fall 20 per cent in 2009 due to a slowing economy.
Car prices in Vietnam are high, due to a 70-per-cent tax on imported cars and parts.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
