Vietnam’s new vehicle market continued to rebound in August, with sales rising by 13.6% to 7,236 units, from 6,371 units in the same month of last year, according to data released by the Vietnam Automotive Manufacturers Association.
Light passenger vehicles continued to drive the market forward, with sales rising by over 30% to 4,394 units in August as consumers benefited from a series of interest rate cuts by the central bank over the last year.
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Commercial vehicles continued to hold back the market, with sales declining by over 15% to 2,488 units.
In the first eight months of 2013, total vehicle sales increased by just over 20% to 58,576 units, from 48,766 in the same period of 2012. Light passenger vehicle sales were up by over 40% at 34,529 units, while commercial vehicle sales fell by 1% to 23,073 units.
