New vehicle sales in Vietnam declined by 2.6% to 9,409 units in April, from 9,659 units a year earlier, according to the Vietnam Automotive Manufacturers Association.
The overall decline came despite a 32% rise in passenger car sales to 3,149 units and an 18% rise in SUV and MPV sales to 1,909 units. Commercial vehicle sales fell by 23% to 4,351 units, however, as businesses struggled with higher interest rates amid rising inflation.
Vehicle sales in the first four months of the year increased by 30% to 37,305 units, from 31,156 units a year earlier.
Truong Hai, the assembler of Kia and Chinese vehicles, overtook Toyota to take the lead in the domestic market after sales rose by 56% to 10,329 units in this period.
Toyota’s sales rose by 12% to 10,190 units, while third-placed GM-Daewoo reported a 43% rise to 3,680 units.