New vehicle sales in Vietnam fell 4.1% to 8,502 units in November, from 8,865 units a year earlier, according to the Vietnam Automobile Manufacturers’ Association (Vama).

VAMA member data showed the passenger vehicle market beginning to stabilise after months of decline, with sales of cars and SUVs rising 7.5% to 5,254 units, from 4,888 units a year earlier. 

The commercial vehicle market continued to weaken, however, with sales falling by 17.4% to 3,066 units, from 3,712 units previously.

Businesses continue to struggle with high interest rates and a lack of available credit.