Vietnam’s new vehicle market continued to recover in October, with sales rising by 20.2% to 8,465 units, from 7,041 units in the same month of last year, according to data released by the Vietnam Automotive Manufacturers Association.
Light passenger vehicles continued to drive the market forward, with sales rising by close to 29% year on year to 5,232 units, from 4,066 units, with consumers benefiting from much lower interest rate compared with last year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Commercial vehicles have also begun to trend higher, with volumes rising by 6.6% to 3,053 units, from 2,864 units a year earlier.
A further 205 sales were reported separately by Mercedes-Benz in October, bringing its year to date total to 1,363 sales – mostly passenger vehicles.
In the first 10 months of 2013, total vehicle sales increased by just over 20% to 67,045 units, from 55,807 units in the same period of 2012. Light passenger vehicle sales were up by 38.5% at 39,761 units, while commercial vehicle sales were just slightly lower at 26,126 units.
