By Just-Auto

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.

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.