The new vehicle market in Vietnam continued to expand in February, by over 16% to 11,168 units from 9,604 units a year ago, according to data released by the Vietnam Automotive Manufacturers Association.
Sales in the first two months of the year were 29% higher at 33,072 units compared with 25,630 units previously, as the country's domestic economy continues to enjoy of low interest rates and rising investment in construction and manufacturing.
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Sales of passenger cars, SUVs and MPVs combined increased by over 20% to 20,059 units in the two-month period, while commercial vehicle sales were 45% higher at 13,013 units.
Toyota was the leading brand year-to-date, albeit with sales rising by just 3% to 7,368 units. Truong Hai (Thaco) group, a local assembler and distributor of brands such as Kia, Mazda, Peugeot and Hyundai, reported a 51% rise in group sales to 13,119 units.
Ford's sales increased by 68% to 4,109 units, while GM Vietnam's sales were 34% higher at 1,290 units.
