Udo Loersch, VAMA chairman, attributed the rise to promotions and other efforts by the industry’s 14 members.

Sale in all segments improved slightly over April.

Commercial vehicles like vans and buses made up nearly half of the total with 1,616 units, followed by sport-utility and multi-purpose vehicles with 1,316, and passenger cars with 567.

However, at 12,065 vehicles, sales in the first five months declined steeply, falling by 20.3 percent year-on-year.

Toyota Vietnam continued to be the market leader in January-May selling 4,275 units, followed by Truong Hai which makes buses and KIA cars in Vietnam, with 1,913 units.

Ford Vietnam was third with 1,344 units and Isuzu fourth with 779. Mercedes-Benz sold 241 cars.

Most VAMA members are offering discounts as the first imported second-hand cars are set to hit the local market.

The Chinese are here

The sluggish auto market has sprung to life with the introduction of four-wheel drive cars by China’s Lifan at a ridiculously low price.

The Lifan 520 costs around US$16,500 despite a 90 percent import tariff, 50 percent luxury tax, and 10 percent valued-added tax.

Source: VnExpress – Translated by Ha Viet