New vehicle sales in Vietnam jumped by 41% to 8,239 units in June, from 5,824 units a year earlier, according to the Vietnam Automotive Manufacturers Association.
That was the second consecutive month of strong growth for the market, albeit against very weak year earlier data. Nevertheless, it was further evidence the new vehicle market is recovering after two years of decline in response to a series of interest rate cuts over the last year by the central bank.
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Sales of passenger cars and SUVs jumped by close to 57% year on year to 4,650 units, while commercial vehicle sales improved by over 25% to 3,468 units.
Cumulative sales for the first half of 2013 were 20.8% stronger at 43,131 units, up from 35,705 units in the same period of last year.
Toyota led the market over the six month period with 14,893 sales, up by close to 44% year on year.
Truong Hai (Thaco), which assembles Kias and various other commercial vehicles, reported a 3% increase in sales to 11,508 units, while Ford sales jumped 119% to 3,424 units.
