Vietnam’s commercial vehicle market over 2 tons gvw continued to decline in the fourth quarter of 2023, by over 16% to 14,877 units from already weak year-earlier sales of 17,766 units.

Sales of commercial vehicles over 2 tons gvw in Vietnam fell by over 20% to 12,898 units in the third quarter of 2023.

Vietnam’s market for commercial vehicles over 2 tons gvw continued to fall sharply in the second quarter of 2023 compared with the same period of last year.

This fall was sharper than the overall economy. Economic growth slowed to 3.3% year-on-year in the first quarter of 2023 from 5.9% in the previous quarter and 8% in the whole of 2022.