The new vehicle market in Vietnam rebounded in June, with sales rising by 4.2% to 22,750 units from 21,829 units in the same month of last year, according to member data released by the Vietnam Automotive Manufacturers Association (VAMA).
The data did not include some non-affiliated brands, meaning the actual market size is larger than these figures suggest.
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The June figures reversed a three month decline in the market, helped by a sharp jump in passenger car sales of over 25% to 13,736 units. Commercial vehicle demand remained weak with volume declining by 17.3% to 9,014 units
Economic growth is estimated to have rebounded strongly in the second quarter of 2017, to 6.2% year on year from 5.1% in the first quarter, driven by strong manufacturing and construction sector growth.
In the first six months of the year the overall vehicle market was 1.5% higher at 125,487 units, compared with 123,660 units in the same period of last year.
Passenger vehicle sales were up by 10.9% at 74,438 units in this period, while commercial vehicle sales fell by 9.7% to 51,049 units.
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By GlobalDataToyota was the leading brand in the first six months of the year with sales rising by over 19% to 29,638 units. Truong Hai (Thaco) group, the local assembler and distributor of brands such as Kia, Mazda, Peugeot and Hyundai, reported an almost 10% drop in group sales to 47,866 units.
Ford's sales rose by 5% to 14,349 units in the six month period, while GM s rose 32% to 5,716 units and Honda's were 22% higher at 6,436 units.
