Sales of locally assembled automobiles in Vietnam fell by 37% year-on-year to 5,679 units in October according to the Vietnam Automobile Manufacturers’ Association (VAMA). It is the third consecutive monthly drop.
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The Vietnamese market has softened this year under the weight of higher price inflation (which has eroded disposable incomes) and increases to car taxes.
However, this year’s vehicle market is up on a cumulative basis to the end of October with sales up 64% to 95,736 units, according to VAMA.
Toyota leads the market with sales of 20,351 vehicles, followed by Vinamotor and Truong Hai, with 18,630 and 14,218 units respectively.
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By GlobalData
