New vehicle sales in Vietnam continued to decline in November by 8.7% to 11,198 units from 12,259 units a year earlier, according to data released by the Vietnam Automotive Manufacturers Association (VAMA).
November’s decline is the third in a row and brings the year-to-date count to 99,798 units, 4% lower than the 104,395 sold a year earlier – with gains made earlier in the first half of the year now more than cancelled out.
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Driving the market lower during the nine-month period has been weak demand for SUVs and MPVs, with combined sales falling by 13% to 21,319 units.
Sales of passenger cars were flat during this period at 29,395 units, while commercial vehicle sales fell by 3% to 49,084 units. Sales of new bus chassis, which are supplied to specialist body-builders, were up by 15% at 457 units.
Market leader Toyota performed strongly in the January-November, with sales rising by 6% to 27,532 units.
Its best selling models are the Innova MPV, Fortuner SUV and Corolla passenger car. Truong Hai, which assembles Kia vehicles and other trucks from other sources, enjoyed strong growth in the nine-month period – with sales rising by 24% to 23,327 units.
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By GlobalDataBy contrast, third-placed VinaMotor reported a 20% drop in sales to 11,098 units.
