New vehicle sales in Vietnam increased by almost 52% to 10,991 units in August, from 7,326 a year earlier, according to the Vietnam Automotive Manufacturers Association.
Cumulative sales for the first eight months of the year increased by close to 32% to 77,150 units, from 58,580 last year. Economic growth has accelerated steadily over the last year, helped by lower interest rates and improved liquidity in the economy.
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Sales of passenger cars, SUVs and MPVs combined increased by 30% to 44,881 units over the eight-month period, from 34,529 previously. Built-up commercial vehicle sales increased by close to 32% to 30,420 units, from 23,072 units, while sales of bus chassis jumped by 163% to 639 units, from 243 units.
Toyota led the overall market in the first eight months of the year with sales rising by close to 18% to 24,027 units. Truong Hai (Thaco), which assembles Kias and various other commercial vehicles, reported a sales rise of just under 28% to 19,438.
Third-placed Ford reported a 65% jump in sales to 7,858 units, reflecting strong demand for the Transit minibus/van and the Ranger pickup truck, which, combined, accounted for close to 62% of the brand’s sales. Honda’s volume increased by 69% to 4,004, thanks to strong demand for the City and CRV models.
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