Vietnam’s CV market shows signs of recovery in Q2
By Will Pulson - 14th October 2024
Vietnam - Vietnam’s market for commercial vehicles over 2 tons gvw began to recover in the second quarter of 2024 after almost two years of sharp decline, with sales rising by 12% to 15,034 units from 13,464 units in the same period of last year - based on wholesale data released by the Vietnam Automotive Manufacturers Association (VAMA). The data excludes some imports by non-affiliated companies, including a growing number of China brands.
Economic growth in the country picked up momentum in the second quarter, with data released by the General Statistics Office showing GDP expanded by 6.9% year-on-year compared with a revised 5.9% growth in the first quarter, driven by strong export and investment growth while consumer spending on goods remained sluggish.
