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Vietnam truck and bus market enjoys upturn in last quarter

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By Jim Gibbins - 1st March 2021

Vietnam - Vietnam’s commercial vehicle market over 2 tons gvw rebounded by 12.6% to 21,207 units in the fourth quarter of 2020 after plunging by 28% to 18,839 units in the same period of the previous year, according to AsiaMotorBusiness.com analysis of data from the Vietnam Automotive Manufacturers Association (VAMA).

Vietnam’s economy also continued to recover in the fourth quarter, with GDP expanding by 4.5% year-on-year after growing by 2.7% in the third quarter and by just 0.4% in the second quarter, when country-wide lockdowns were imposed to halt the spread of the COVID-19 pandemic. Over the full year, the economy expanded by 2.9% compared with 7.0% in 2019.

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