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.

Vietnam's CV market dips but relatively stable.

The seven major markets of East Asia (excluding China) has grown by 125,000 commercial vehicles in the last two years.

The company launched the Dongfeng KL and Dongfeng KR, in Vietnam.

Markets decrease in Vietnam in the first half of 2022 after a strong rebound in 2021.

In the first half of 2022, regional sales rose by 2.5% to 703,309 units, although the CV performance of the seven different markets in the region (excludes China) was either very positive or extremely negative.

Vietnam’s commercial vehicle market over 2 tons gvw resumed its recovery in the fourth quarter of 2021, with sales rising by 9% to 23,144 units from a reasonably strong 21,201 units in the same period of the previous year, according to AsiaMotorBusiness.com analysis of data from the Vietnam Automotive Manufacturers Association (VAMA). 

Sales of pickup trucks surged by 32% to 9,855 units in the fourth quarter of 2021 from 7,487 units in the same period of the previous year, resulting in a 29% rise in full-year sales to 25,325 units from 19,697 units in 2020. 

Sales of commercial vehicles over 2 tons gvw in Vietnam plunged by over 39% to 8,785 units in the third quarter of 2021 after declining by over 17% to 15,462 units in the same period of last year.

Vietnam’s market for commercial vehicles over 2 tons gvw bounced back by almost 41% year-on-year to 20,026 units in the second quarter of 2021 after declining by 23% to 14,211 units in the same period of last year.

Vietnam’s market for commercial vehicles over 2 tons gvw expanded by over 33% to 15,211 units in the first quarter of 2021 after declining by over 25% to 11,390 units in the same period of last year.

Sales of medium and large buses and coaches fell by over 34% to 688 units in the fourth quarter of 2020 from already depressed year-earlier sales of 1,048 units, resulting in a 57% drop in full-year sales to 1,558 units.