New vehicle sales in Vietnam fell by 27% to 5,710 units in May, compared with 7,778 units a year earlier, according to the Vietnam Automotive Manufacturers Association VAMA.
Cumulative sales for the first five months of 2012 fell 35% to 29,812 units from 45,597 units in 2011 with the market severely affected by higher registration taxes introduced in January and weakening economic growth.
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Sales of SUVs and MPVs were hit hardest over the five-month period, with sales falling by 44% to 5,484 units, followed by a 40% fall in passenger car sales to 9,005 units and a 30% drop in commercial vehicle sales to 14,692 units.
