The collapse of the local automotive industry may become a reality soon after the announcement made by president of Toyota Motor Vietnam early this month about the possible production halt
Last year, sales of personal cars increased by 43 percent year on year, topping 100,000 units, while sales of trucks grew by 42 percent over 2013 to reach nearly 57,371 vehicles
In total, some 110,500 vehicles were sold locally in 2013, a surprise to many insiders who had forecast a 10% year-on-year increase based on the recently gloomy market
It is the fifth consecutive month local car sales volume has exceeding that of the same periods in 2012
The 4th consecutive month-on-month increase in domestic car sales may bottom out, according to the Vietnam Automobile Manufacturers' Association (VAMA)