New vehicle sales in Vietnam jumped by close to 47% to 13,689 units in November, from 9,295 units a year earlier, according to the Vietnam Automotive Manufacturers Association.

Cumulative sales in the first 11 months of the year were up by 38% at 117,121 units, from 85,061 units previously, reflecting a strengthening domestic economy driven by low interest rates, improving bank liquidity and growing exports. 

Sales of passenger cars, SUVs and MPVs combined increased by over 33% to 67,578 units over the 11-month period, from 50,733 units previously. Commercial vehicle sales rose by over 44% to 49,543 units from 34,328 units.

Toyota led the overall market in the 11 months of the year with sales rising by over 23% to 36,106 units. Truong Hai (Thaco), which assembles Kias and various other commercial vehicles, reported a sales rise of close to 35% to 29,010 units.

Third-placed Ford reported a 72% jump in sales to 12,338 units, reflecting strong demand for the Transit minibus/van and the Ranger pickup truck which together accounted for over 61% of sales. VinaMazda’s sales jumped by 143% to 8,234 units, with the BT-50 and the 3 its best-selling models. Honda’s deliveries fell sharply in November, although cumulative 11-month sales were up by 48% at 5,655 units.