An increase in the number of motor vehicles with daily growth of 32,000 light commercial vehicles
The country's total number of motor vehicles has surpassed 170 million, reflecting a steady growth in vehicle ownership. In the first quarter, the daily average increase reached 32,000 vehicles, with a notable rise in the number of cars with engines under 1.6 liters. This trend highlights a shift in consumer preferences toward more fuel-efficient models.
According to data from the Ministry of Public Security Traffic Control Bureau, the initial growth in January was relatively modest due to the lingering effects of the international financial crisis. However, as the year progressed, several government policies began to drive vehicle ownership higher. These included the implementation of fuel tax reforms, incentives for purchasing smaller-displacement vehicles, and initiatives promoting the use of automobiles and motorcycles in rural areas. As a result, the growth rate of motor vehicles accelerated steadily over time.
By March this year, the monthly increase in vehicle numbers had already surpassed the same period last year, showing a strong upward trend. Private car ownership has been on the rise, with private motor vehicles accounting for 76.49% of the total. This indicates a growing preference among individuals for personal transportation.
In particular, the number of passenger cars and light trucks with engines under 1.6 liters saw a significant increase. At the end of last year, small and micro passenger vehicles rose by 5.58%, while compared to the same period last year, the growth reached 21.68%. This demonstrates a clear demand for compact and efficient vehicles in both urban and rural markets.
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