Vietnam’s CV market continued to weaken during Q2/2022
By Will Pulson - 12th October 2022
Vietnam - Vietnam’s market for commercial vehicles over 2 tons gvw fell by almost 14% year-on-year to 17,251 units in the second quarter of 2022 after rebounding strongly to 20,026 units in the same period of last year, based on wholesale data supplied by Vietnam Automotive Manufacturers Association (VAMA).
Economic growth in the country accelerated to an estimated 7.7% in the second quarter of 2022, according to preliminary data released by the country’s General Statistical Office (GSO), much stronger than the 5.1% growth reported in the first quarter. Activity was boosted by fiscal stimulus and a reopening of the country to international tourism after nearly two years of lockdown – which helped to strengthen private consumption.
