New vehicle sales in Vietnam fell by 11.4% to 10,421 units in October compared with 11,762 units a year earlier, according to data gathered by the Vietnam Automotive Manufacturers Association.
Sales of passenger cars were particularly weak in October, with volumes declining by 16.4% to 3,232 units, while sales of MPVs and SUVs declined by 14.9% to 2,226 units. Commercial vehicles faired a little better, with sales declining by 6% to 4,963 units.
This is the third consecutive month of decline for the overall vehicle market and brings the ten-month cumulative total to 88,600 units - 3.8% lower than the same period last year.
During the ten months, Toyota led the market with 24,311 sales 8.2% higher than last year; followed by Truong Hai with 20,279 units - up 22.1% - while third-placed VinaMotor reported a 20% drop in sales to 10,067 units.