Despite Toyota’s recent troubles in the US, the Japanese manufacturer helped the car industry to a relatively productive March. Sales in Vietnam reached 21,289 units in the first quarter, down about 2% from the same period last year — but up in March, led by Toyota, which reported a 19% increase in vehicles sold.
Vietnam saw decreased sales in March for Ford, Honda, Mercedes, Mitsubishi and GM. Sales of passenger cars doubled as SUV and commercial vehicle sales declined.
Meanwhile government policies aimed at reducing the trade deficit are creating difficulties for the car business, and authorities are considering raising vehicle registration taxes from 12% to 15%.
More on auto sales in Vietnam