New vehicle sales in Vietnam fell 22.5% year on year to 6,116 units in February, according to data released by the Vietnam Automobile Manufacturers’ Association (VAMA).
The market continues to struggle with high interest rates and the recent increase in vehicle registration taxes.
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Passenger car sales fell by 32% to 1,778, while sales of SUVs and MPVs were down by over 32% at 1,187 units and commercial vehicles by over 14% at 3,020 units.
Year to date, total vehicle sales fell by over 435 to 10,390 units, from 18,313 units a year earlier.
