Vietnam’s new vehicle market continued to grow strongly in April, with sales jumping by over 64% to 16,643 units from 10,115 units a year earlier, according to data released by the Vietnam Automotive Manufacturers’ Association (VAMA).
Sales in the first four months of the year increased by just under 68% to 57,477 units, from 34,292 units a year earlier, with first quarter GDP growth at over 6% – driven by rising domestic consumption, exports and investment.
Cumulative sales of passenger cars, SUVs and MPVs combined increased by close to 59% to 32,434 units, from 20,454 units in the same period of last year. Commercial vehicle sales rose by 81% to 25,043 units, from 13,838 units previously.
Toyota was the leading brand over the four-month period, with sales rising by close to 43% to 14,862 units. Local Truong Hai (Thaco) group, which has a number of brands in its portfolio including Kia, Mazda, Peugeot and some lesser-known commercial vehicles, reported a 97% rise in sales to 21,324 units in the same period.
Ford’s sales were up by 66% at 5,588 units in the January-April period, while Honda’s sales rose by 7% to 2,425 units.