Vietnam’s new vehicle market continued to rebound in July, with sales rising by 22.7% to 8,209 units from 6,690 units in the same month of last year, according to the Vietnam Automotive Manufacturers Association.
A further 160 Mercedes-Benz vehicles were sold during the month, which are reported separately by the association.
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Light passenger vehicles continued to drive the market forward, with deliveries rising by close to 48% to 5,419 units in July. This reflects much improved consumer lending conditions compared with a year earlier following a series of interest rate cuts.
Commercial vehicles continued to lag, with sales declining by over 10% to 2,630 units compared with 2,930 units a year earlier.
In the first seven months of 2013, total vehicle sales increased by just over 21% to 51,340 units, from 42,395 in the same period of 2012. Light passenger vehicle sales were up by close to 41% at 29,935 units, while commercial vehicle sales were only just positive at 20,585 units.
