Vietnam’s new vehicle market continued to expand strongly in January, with sales rising by 80% to 16,110 units - from 8,946 units sold in the same month of last year, according to data released by the Vietnam Automotive Manufacturers Association.
The domestic economy continues to strengthen with GDP growth estimated at just under 7% in the fourth quarter of last year, driven by strong domestic consumption, investment and export growth.
Sales of passenger cars, SUVs and MPVs combined increased by over 56% to 9,853 units, from 6,308 units previously, while commercial vehicle sales jumped by over 137% to 6,257 units, from 2,638 units.
Toyota led the overall market in January with sales rising by over 35% to 4,262 units, from 3,145 units previously, while Truong Hai (Thaco), which assembles Kias and various commercial vehicles, reported a sales rise of more than 84% to 3,930 units.
VinaMazda reported a 183% jump in sales to 1,776 units, helped by strong demand for the CX5, Mazda 3 and BT-50 pickup models. Ford dropped to fourth place after sales increased by just under 60% to 1,523 units, with the newly launched Ecosport helping to strengthen the brand’s line.