New vehicle sales in Vietnam continued to grow strongly in June 2019, by close to 22% to 26,207 units from 21,543 units a year earlier, according to wholesale data released by the Vietnam Automotive Manufacturers Association (VAMA).
The vehicle market continued to recover from a sharp decline in the previous year when the introduction of new regulations had a severe impact on vehicle imports. Economic growth was estimated to have accelerated in the second quarter of the year from 6.8% year on year in the first quarter on strong domestic consumption and industrial output growth.
Go deeper with GlobalData
Vehicle sales in the first six months of the year increased 18.4% to 145,811 units from 123,112 units a year earlier, driven by an almost 33% jump in passenger vehicle sales to 109,423 units. Commercial vehicle sales were more than 10% lower at 36,388 units in this period, however.
Truong Hai (Thaco) group, the local assembler and distributor of brands such as Kia, Mazda and Peugeot and a significant player in the commercial vehicle segment, reported a 9% drop in group sales to 45,872 units in the first half. Mazda sales rose 4.9% to 17,314 units while Kia volume increased 5.8% to 14,580 units.
Toyota remained the leading vehicle brand in the first half of the year with sales rebounding by almost 44% to 37,030 units from depressed year earlier volume, while Honda sales jumped by close to 47% to 16,419 units. Ford sales also recovered strongly in this period, by over 61% to 15,460 units.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
