Vietnamese auto sales went up by 34% in the first five months of this year to 276,013 units, driven by growth in demand for major brands including VinFast and Toyota.
VinFast led with 97,961 vehicles, a 76% jump, with Toyota in a distant second at 28,916, a 25% rise.
In third place was South Korean brand Hyundai with 21,323 vehicles, a 6% increase.
VinFast VF 6 seen in Hanoi. Photo by VnExpress/Thanh Nhan |
But sales declined again in May after a drop in April. Industry insiders explained this away by saying customers are waiting for new models that would be launched later in summer.
The introduction of the new E10 gasoline delayed some customers’ purchase decision as they waited for users’ feedback. Tightened bank credit and higher lending interest rates also contributed to the declines.
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