Vehicle sales in Vietnam rose by 31.2% to 10,555 units in August, compared with 8,044 units a year earlier, according to data released by the Vietnam Automotive Manufacturers Association.
The rise reflects improving domestic sentiment, with increasing optimism that the worst of the global economic recession is in the past.
Passenger car sales rose by over 50% to 3,528 units, while SUV and MPV sales fell by 2% to 2,287 units. Commercial vehicle sales also performed strongly, rising by 41% to 4,740 units.
Cumulative sales for the January-August period were 19% lower at 69,303 units, compared with 85,942 units a year earlier. Passenger car sales turned positive thanks to August’s sharp volume increase, with volumes 2% higher than a year-earlier period at 17,688 units. Sales of MPVs and SUVs were 18% lower at 16,499 units, while commercial vehicle sales fell by 28% to 35,136 units.
Toyota was the market leader in the January-August period, with sales falling by just 5% to 16,641 units; followed by Truong Hai (distributor of Kia vehicles, trucks) with 12,789 units (-8%); truck and bus distributor VinaMotor with 9,944 units (-42%); and GM-Daewoo with 7,688 units (-9%).
Tony Pugliese
Go deeper with GlobalData
