Illustration photo. (Source: VNA)
Hanoi (VNA) – The Vietnam Automobile Manufacturers' Association (VAMA) expects automobile sales for this year to reach 260,000 units, a year-on-year rise of 10 percent, according to its chairman Yoshihisa Maruta.

Maruta, also General Director of Toyota Vietnam (TMV), said that the figure is based on the consideration of the market’s continuous growth with support from the government, positive economic growth, and the rising demand for cars.

Last year, Vietnam ’s automobile market set a record with 245,000 units sold.

According to Maruta, consumers enjoyed more opportunities to buy cars thanks to the government’s efforts to maintain stable economic growth as well as easier access to financial solutions with low interest rates.

As auto sales soared 55 percent year-on-year in 2015, Vietnam is one of the fastest growing auto markets among Asian countries.

In 2015, TMV sold a record 50,285 vehicles, an increase of 23 percent compared with 2014 and an all-time record sales figure of the automobile manufacturer in its 20-year operation in Vietnam , according to Maruta.

This year, TMV expects to see the same growth in auto sales as 2015.-VNA