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Vietnam’s new vehicle market continued to expand rapidly in October, with deliveries to dealers rising by 44% to 19,181 units from 13,324 units a year earlier according to data released by the Vietnam Automotive Manufacturers Association.

Sales in the first 10months of the year increased by over 58% to 163,855 units, from 103,463 units previously, as the economy continued to benefit from strong domestic consumption and manufacturing investment.

Sales of passenger cars, SUVs and MPVs combined increased by close to 48% to 91,838 units in the 10-month period, from 62,182 units previously.

Commercial vehicle sales rose by over 74% to 72,017 units, from 41,281 units.

Toyota was the leading brand in the January-October period, with sales rising by 27% to 40,516 units. Truong Hai (Thaco) group, a local assembler and distributor of brands such as Kia, Mazda, Peugeot and Hyundai, reported a 90% rise in overall sales to 62,460 units. 

Ford’s cumulative sales increased by 46% to 15,737 units, while Honda’s sales were up by 25% at 6,580 units.

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By GlobalData