Vietnam’s new vehicle market continued to grow strongly in May, with sales jumping by over 40% to 16,946 units from 12,071 units a year earlier, according to the Vietnam Automotive Manufacturers Association.
Sales in the first five months of the year increased by just under 70% to 74,428 units, from 43,671 units a year earlier, driven by strong growth in domestic consumption, exports and investment.
Cumulative sales of passenger cars, SUVs and MPVs combined increased by close to 58% to 42,239 units in this period, from 26,815 units previously. Commercial vehicle sales rose by 91% to 32,189 units, from 16,856 units.
Toyota was the leading brand over the five-month period, with sales rising by close to 42% to 18,742 units. Local Truong Hai (Thaco) group, which has a number of brands in its portfolio including Kia, Mazda, Peugeot and some less known commercial vehicles, reported a 94% rise in sales to 27,927 units in the same period.
Ford’s cumulative sales increased by 71% to 7,335 units while Honda’s sales were up by 12% at 3,067 units.