New vehicle sales in Vietnam continued to grow strongly in May, with deliveries to dealers rising by over 33% to 22,553 units from 16,946 units a year ago, according to the Vietnam Automotive Manufacturers Association (VAMA).
This excludes som brands and models sold in the country, including imports, so the actual market size is larger than the data suggests.
Go deeper with GlobalData
VAMA data showed sales rose by almost 37% to 101,800 units in the first five months of the year, from 74,425 units in the same period of last year, with low interest rates and rising investment driving the domestic economy forward.
Sales of passenger cars, SUVs and MPVs combined increased by close to 32% to 56,158 units in this period, from 42,238 units a year earlier, while commercial vehicle sales were almost 42% higher at 45,642 units.
Toyota was the leading brand year to date with sales rising by over 11% to 20,875 units. Truong Hai (Thaco) group, a local assembler and distributor of brands such as Kia, Mazda, Peugeot and Hyundai, reported a 57% jump in group sales to 43,881 units.
Ford's sales increased by over 53% to 11,247 units in the five month period, while Honda's sales rose by over 16% to 3,588 units; and GM Vietnam's were more than 37% higher at 3,570 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
