Vietnamese market for trucks continues to fall
By Will Pulson - 18th January 2024
Vietnam - Sales of commercial vehicles over 2 tons gvw in Vietnam fell by over 20% to 12,898 units in the third quarter of 2023 after rebounding strongly in the same period a year earlier to 16,192 units, based on data released by the Vietnam Automotive Manufacturers Association (VAMA).
This latest drop extends a decline that began in the fourth quarter of last year, following an initial rebound from the Covid lockdowns earlier that year. Economic growth continued to accelerate in the third quarter of 2023, to 5.3% year-on-year from just over 4.0% in the second quarter, but much slower than the 13.7% rebound seen a year earlier and the 8% growth in the whole of 2022.
