The Vietnamese new vehicle market ended last year on a down note, with sales in December falling by more than 21% to 8,627 units – according to the Vietnam Automobile Manufacturers’ Association (VAMA).

Full year sales fell by just under 27% to 80,487 units, from 110,020 units in the previous year, as the country struggled with high interest rates, inflation and tight lending.

Mercedes-Benz, which no longer reports data to the association, sold an extra 1,929 vehicles last year – its own tally little changed from 1,978 units in 2011.

The passenger vehicle market performed worst last year with sales falling by over 32% to 43,030 units, from 63,814 units in 2011.

Commercial vehicle sales were down 23% to 35,528 units.