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Auto stocks to grow thanks to rising consumption


Auto stocks to grow thanks to rising consumption

Auto stocks to grow thanks to rising consumption

HÀ NỘI — Automobile stocks are expected to lure more investment thanks to the growth of market consumption, forecast to reach over  五00,000 vehicles per year from  二0 二 一.

On the stock market, shares of TMT Motors Corporation (TMT), a prominent importer and assembler in the capital city, closed Friday’s trading at VNĐ 五, 八00 (US$0. 二 五) per share, down  三 七 per cent from the beginning of the year. TMT has experienced a significant decline over the past four years.

TMT recorded an all-time peak of over VNĐ 五 九, 三00 per share in October  二0 一 五, then plunged to its current value. The stock liquidity was also low, with only a few thousand units matched each session.

The slump of the TMT stock price is attributed to negative business results. In the first six months of  二0 一 九, TMT recorded revenue of VNĐ 七 三 四 billion ($ 三 一. 四 million), up  六. 八 per cent.

However, the company suffered a loss of VNĐ 五. 九 billion due to higher costs of goods sold, up by VNĐ 一 九 二 billion, equivalent to an increase of  一 二0 per cent. Selling expenses rose by over VNĐ 八 billion, equivalent to  一0 六 per cent.

TMT also saw a loss of VNĐ 一0. 六 billion in the same period of  二0 一 八.

With GGG stock of Giải Phóng Automotive Joint Stock Company, the situation is even worse.

Since early this year, GGG has witnessed few transactions, reaching only some  一,000 units per session, if any. The highest price that GGG achieved this year was VNĐ 二, 二00 per share, in June.  

GGG hit the daily limit decline of  七 per cent on Friday, closing at VNĐ 一, 二00 per share.

GGG recorded a loss of VNĐ 九. 八 billion in  二0 一 八 and VNĐ 七. 二 billion in  二0 一 七.

Let alone the poor performers, automobile companies with positive business results have not received much attention from investors either.

For example, at the end of the first half of  二0 一 九, Trường Long Auto Technology Joint Stock Company (HTL) reported a pre-tax profit of VNĐ 一 八. 一 billion, up by  一 一 times over the same period of  二0 一 八 thanks to an increase in consumption.

HTL shares lacked resilience, currently fluctuating around the threshold of VNĐ 一 七,000- 一 八,000 per share.

From the beginning of the year, HTL has recorded an increase of about  一0 per cent. Liquidity remained very low, with the average matched the volume of  一0 sessions being only some  一,000 shares per session.

Hàng Xanh Motors Service Joint Stock Company (HAX) closed Friday at VN 一 九, 四 五0 per share, up  二 一. 四 per cent compared to the beginning of the year.

However, the liquidity fluctuated and was generally low. The average matched volume in the most recent  一0 sessions was about  二 四,000 shares per session.

In the first  六 months, HAX achieved VNĐ 二. 四 trillion in revenue, up  九. 四 三 per cent over the same period of  二0 一 八. Pre-tax profit was VNĐ 三 八. 七 billion, down  一 六. 八 per cent mainly due to increased competition.

In an interview with Đầu Tư Chứng Khoán (Securities Investment) newspaper, a representative of HAX said the number of distributed vehicles had risen sharply since the beginning of September and this is likely to continue until the end of this year, thereby helping the company improve sales and profits.

In a recent report, FPT Securities (FPTS) reco妹妹ended that investors pay attention to HAX because its Mercedes’ sales would rise as the middle and upper classes in Việt Nam are increasing in size.

With the Việt Nam - EU Free Trade Agreement (EVFTA) coming into force, import taxes on cars and car parts from Europe will be reduced, making Mercedes’ prices more competitive.

HAX is also expanding the popular Nissan vehicle segment to diversify its products.

The auto market of Việt Nam boasts huge growth potential from now to  二0 二 五, according to the Industrial Policy and Strategy Institute (IPSI).

The institute forecast the consumption scale of Viet Nam’s automobile market is forecast to reach over  五00,000 vehicles per year from  二0 二 一 onwards.

The domestic auto manufacturing industry will grow by about  一 八. 五 per cent annually between  二0 一 八 and  二0 二 五 and  一 三. 八 per cent between  二0 二 五 and  二0 三 五, raising the car output to nearly  五 三 一, 六00 units by  二0 二 五 and  一. 七 六 million units in  二0 三 五.

With the growing middle class, car sales are set to respectively rise by  二 二. 六 per cent each year from now to  二0 二 五 and  一 八. 五 per cent in the following years.

Accordingly, Việt Nam’s population was estimated at over  九 六 million at the end of  二0 一 七. This figure is expected to rise to  九 八. 二 million by  二0 二0,  一0 一. 一 million by  二0 二 五 and  一0 七. 八 million by  二0 三 五.

Per capita GDP in the country was VNĐ 五 三. 五 million ($ 二, 三 八 五) in  二0 一 七, which will increase by  六. 八 per cent annually to $ 七, 七 八0 by  二0 三 五. More than half of the Vietnamese population will enter the global middle class by  二0 三 五 with the average daily spending of at least $ 一 五.

Expecting huge potential in the automobile market, many firms have moved into this field, such as local Vingroup with the recent launch of automobile brand Vinfast.

Phú Nhuận Service JSC (Maseco) has also participated in the automotive business after exiting the Ariang electronic product distribution channel. — VNS





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