Vietnam’s CV sales decline by 17%
By Jim Gibbins - 1st June 2019
Vietnam - The market for commercial vehicles over 2 tons gvw in Vietnam continued to decline in the first quarter of 2019, by over 17% to 15,277 units from 18,489 units in the same period of last year, based on data compiled by the Vietnam Automotive Manufacturers Association (VAMA).
GDP growth remained strong in the first quarter at 6.8% year-on-year according to initial government estimates, albeit down from 7.3% growth in the fourth quarter of 2018. This mainly reflects weaker export growth of 4.7% from 8.6% in the previous quarter despite a strong bounce in March. Service sector growth slowed more moderately, to 6.5% from 7.6%.
