Vietnam's new vehicle market rebounded strongly in January, with sales rising by 29.4% to 25,381 units from 19,614 units in the same month of last year, according to member data released by the Vietnam Automotive Manufacturers Association (VAMA).
The return to growth followed a difficult year for the industry which saw vehicle sales fall by close to 8% to 250,619 units in 2017 from 271,834 sales in 2016.
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Sales last month were driven higher by an almost 40% rise in commercial vehicle sales to 7,125 units from 5,107 units a year earlier while passenger vehicle sales increased by close to 26% to 18,256 units from 14,507 units.
Toyota remained the leading brand last month albeit with sales falling by 3.5% to 5,131 units. Truong Hai (Thaco) group, the local assembler and distributor of brands such as Kia, Mazda, Peugeot and Hyundai and a significant player in the commercial vehicle segment, reported a 73% jump in group sales to 11,275 units.
Ford's sales were 4% lower at 2,443 units in January while Honda sales rose by 42% to 1,755 units and Mitsubishi sales jumped by 54% to 1,179 units.
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By GlobalData
