Vietnamese Vehicles Market in October 2023 falls for the 4th month after growing 7.6% in June, reporting 32,424 sales (-13.6%). YTD figures at 268,759 are down 24.1% from the prior year.

Market Trend and Outlook

The Vietnamese Vehicle Market in October 2023 falls for the 4th month after growing 7.6% in June, reporting 32,424 sales (-13.6%). YTD figures at 268,759 are down 24.1% from the prior year.

Looking at cumulative data up to October 2023 brand-wise, Hyundai gains leadership with 48,608 sales (-24.6%), in front of Toyota at 42,531 (-41.6%), Kia at 31,897 (-39.5%) and Ford -up 3 spots- at 29,548 sales (+51.3%).

Mazda maintains 5th spot with 27,791 registrations (-7.5%), followed by VinFast  at 24,880 (+37.8%), Mitsubishi  at 24,103 (-27.8%) and Honda -down 2 spots- with 17,218 sales (-35.9%).

Suzuki  maintains 9th position with 11,528 (-14.5%) and Isuzu closes the Top 10 with 6,890 sales (-26.8%).

Looking at specific models the Mitsubishi Xpander becomes the best seller despite falling 12.0% in sales, followed by the Hyundai Accent down 26.6%.

Medium-Term Market Trend

In Vietnam the primary vehicle for individual mobility in the motorcycles and not the car. Over 3 million 2-Wheelers are sold each year, while 4-wheeler sales never achieved the half million.

In the last decade, the car and light commercial market boomed, from less than 100K in 2010 to nearly 400K ten years after. The momentum slowed down in 2021 due to the covid driven measures, with volume falling 0.4%. Although the market did slow down, it was not  hit as roughly as other ASEAN countries.

The birth of a local manufacturer – VinFast – fully dedicated to the electric vehicles (both 4 and 2 wheelers) is a stimulus for the traditional manufacturers controlling the market (Japanese and Koreans) and the incentives for EVs from the government will help to boost the electrification process, which is seen faster in Vietnam than in the rest of the region.

The outlook is positive for the next years, driven by expected growth in the pro capita income and by the modernization of road infrastructures. The market is, in fact, already showing positive signs of growth, with sales surging 21.5% to 465,741 in 2022.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Vietnamese Vehicles Market in 2022 totals 433,970 sales (+23.9%), setting a new all-time high. December falls for the second month in a row, reporting 42,474 new registrations (-21.0%). VinFast Loses 35.8%.

Market Trend and Outlook

The automotive industry was hit by a sharp lockdown due to covid spread in the third quarter 2021, with sales collapsing compared with the normal trend. This being said, in the third quarter 2022 sales went back to their normality and the y/y huge growth should not be considered as a trend, but a uniqueness.

Final data from 2022 shows the Vietnamese Vehicles Market hitting a new all-time high at 433,970 sales, a 23.9% increase from the prior year. Despite posting an overall uptrend the year comes to an end with December falling for the second month in a row, with new registrations at 42,474 (-21.0%).

Looking at cumulative data from 2022 brand-wise, Toyota becomes the new leader with 91,115 sales (+34.9%), overtaking Hyundai at 81,580 (+15.7%) followed by Kia at 60,729 (+33.4%) and Mitsubishi at 39,861 sales (+46.3%).

Mazda rises a spot into 5th with 36,052 registrations (+32.1%), followed by Honda -up 2 spots- at 30,637 (+42.2%), Ford  at 28,487 (+21.7%) and VinFast -down 4 spots- with 22,924 sales (-35.8%).

Suzuki remains in 9th position with 16,209 (+18.0%) and Isuzu closes the Top 10 with 11,108 sales (+25.4%).

Medium-Term Market Trend

In Vietnam the primary vehicle for individual mobility in the motorcycles and not the car. Over 3 million 2-Wheelers are sold each year, while 4-wheeler sales never achieved the half million.

In the last decade, the car and light commercial market grew up, from less than 100K in 2010 to near 400K ten year after. The growth speed was breaked by covid measures, considering the pandemic did not found space in the country. However, several lock downs have shifted production and sales across the last 2 years, but have not hit the market as happened in other ASEAN countries.

The born of a local manufacturer – VinFast – fully dedicated to the electric vehicles (both 4 and 2 wheelers) is a stimulus for the traditional manufacturers controlling the market (Japanese and Koreans) and the incentives for EVs from the government will help to boost the electrification process, which is seen faster in Vietnam than in the rest of the region.

The outlook is positive for the next years, driven by expected growth in the pro capita income and by the modernization of road infrastructures.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Vietnam’s vehicle market in 2021 falls 0.4% with 383,259 sales, reporting a very strong first half, followed by a double-digit fall in the second part of the year. VinFast reports the best performance, rising 54.4%.

Market Trend

The Vietnamese car market this year attempted to recover from the pandemic crash of 2020 and reported a very promising performance in the first half, followed by another double-digit fall.

The market has scored an impressive series of all-time records ending 2016 with more than double compared to 2012. However, in 2017 the market scored the first break after years, down 12.6%.

In 2018, the market started immediately to recover, signing an 11.1% growth, while in 2019 it kept surging by 14.3%.

Sales in 2020 have grown by 8% despite the COVID-19 pandemic. In fact, 384,934 units have been sold.

In 2021 the year started positively for the Vietnamese market, in fact, in Q1 88,950 units have been sold, reporting a 40% increase in sales compared to Q1 2020, and in Q2 sales kept growing in double-digits, reporting a 39.1% increase in sales with 96,373 units due to the very low volumes in Q2 2020.

In Q3 sales started dropping quickly, losing 43.9% with 54,372 units, and in Q4 sales kept falling 7.5% with 143,564 units.

Indeed, Full-Year sales for 2021 have been 383,259, reporting a 0.4% decrease compared to 2020.

Brand-wise, this year the leader Hyundai (-8.8%) lost 1.7% market share, followed by Toyota (-4.5%), which lost 0.7% share. Kia on the other hand gained 1.7% share and rose 16.2%.  VinFast reached 4th place and reported the best performance by gaining 54.4%, followed by Mazda -down 1 spot- which lost 15.3% reporting the worst performance.

Mitsubishi -down 1 spot- lost 5.9%, followed by Ford (-3.9%) and Thaco -down 2 spots- losing 6%. Closing the leaderboard we have Honda losing 11.1% and Suzuki which lost 5.4%.

The most sold vehicle this year is the Vinfast Fadil (+70.2%) with 23,147 units sold, followed by the Hyundai Accent, which lost 3.9% registering 19,956 new sales this year. The Toyota Vios (-33.3%) closes the podium and reports 19,934 new units sold.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Vietnamese vehicles market in 2020 falls gains 8% despite the pandemic and restrictions. Full-Year sales have been 384.934 (including HCVs). Hyundai is the star of the year, jumping from 10th to 1st place increasing sales by 1238.8%.

Market Trend

The Vietnamese car market was able to grow despite the COVID-19 pandemic affecting sales in almost all markets.

The market has scored an impressive series of all-time records ending 2016 with more than double compared to 2012. However, in 2017 the market scored the first break after years, down 12.6%.

In 2018, the market started immediately to recover, signing an 11.1% growth, while in 2019 it kept surging by 14.3%.

After starting the year with a very negative trend (-41.9%), the market grew significantly in February (+27.2%) before falling in March (-32.6%) due to the pandemic, which led to the sharpest drop in sales in April (-43.7%).

The market recovered quickly and impressively, in fact, in June (+1.4%) sales grew again and remained positive during the entire second half of the year, with the biggest growth recorded in November (+62.6%).

Indeed, Full-Year sales for 2020 have been 384.934 (including HCVs), reporting a growth of 8% compared to 2019.

Brand-wise, this year the new leader Hyundai (+1238.8%) went from 1.9% market share to 20.1%, followed by the previous leader Toyota (-10.4%), which lost 7.1% share. Kia on the other hand lost 2.2% share despite gaining 2.2%.  Mazda remained in 4th place and reported a loss of 1.5%, followed by Mitsubishi -up 1 spot- which lost 5.5%.

Thaco -up 2 spots- gained 83.6%, followed by Ford (-22.6%) -down 2 spots- and Honda -down 5 spots- which reported the worst performance on the leaderboard by losing 26.2%. Closing the leaderboard we have VinFast holding 6% share and Suzuki -down 1 spot- gaining 23.2%.

The most sold vehicle this year remains the Toyota Vios (+10%) with 29.891 units sold, followed by the Hyundai Accent, which gained 40% registering 20.776 new sales this year. The Hyundai Grand i10 (+77.6%) closes the podium and reports 17.569 new units sold.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Vietnamese vehicles market in 2019 signed the new All-time record. Indeed, the full-year ended at 293.563, surging 14.3%. The star of the year was Mitsubishi, booming over 200%, while Toyota widened the gap from the followers, ending at 26.9% of share.

Economic Environment

Vietnamese economy likely continued to markedly outperform most regional peers nonetheless. Strong expansions in manufacturing and services buttressed growth, with trade diversion from China likely aiding manufacturing and surging tourist arrivals and a tight labor market boosting the services sector. Less positively, the mining sector contracted, while the impact of African swine fever continued to restrain the agricultural sector.

The fourth quarter’s reading rounded out a stellar 2019, which saw growth clock 7.0%—likely the fastest reading in ASEAN and exceeding the government’s 6.6–6.8% target. Late last year, the government set a 2020 growth target of 6.8%, a figure slightly above FocusEconomics panelists’ expectations.

Market Trend

Vietnamese vehicles market has scored an impressive series of all time records ending the 2016 at 286.845 (including HCVs) units more than the double compared with the 2012. However, in the 2017 the market scored the first break after years with total vehicles sales at 250.616 units, down 12.6%. In 2018, the market started immediately to recover, signing an 11.1% growth with 278.352 units sold.

In 2019, according to the Association of local Automotive Importers, the market signed the new All-time record. Indeed, the full-year ended at 293.563, surging 14.3%.

Toyota confirmed its domain of the entire last decade, holding, with Kia, near 40% of the market. However, Kia eroded its share from 31% in 2011 to 13.1%, as the followers – Honda, Ford and Mazda – steadily gained terrain in recent years.

The star of the year was Mitsubishi, booming over 200% and closing at 10.4%.

Service Solutions

Since 2010, focus2move.com is a specialist in the automotive industry tracking monthly sales for all brands and models in the widest in the World range of countries, actually over 150. From this huge database we can extract data sorted under your own conditions and deliver historical data in excel. 

If you like to receive historical data or to subscribe at monthly update, contact us at kventura@focus2move.com and we will arrange a short video call. By showing you our database and segmentation, we can find together the best solutions for your team.

Rank 2019	Rank 2018	Brand	Sales 2019	Sales December	+/- YTD	Share 2019	Share December
1	1	Toyota	78.855	8.222	21,0%	26,86%	25,18%
2	2	Kia	38.352	2.198	-9,1%	13,06%	6,73%
3	4	Honda	33.102	2.264	22,2%	11,28%	6,93%
4	3	Mazda	32.721	3.330	0,0%	11,15%	10,20%
5	5	Ford	31.875	2.796	28,6%	10,86%	8,56%
6	7	Mitsubishi	30.642	3.877	203,4%	10,44%	11,88%
7	10	Isuzu	14.170	7.118	92,1%	4,83%	21,80%
8	9	Suzuki	11.786	1.159	36,0%	4,01%	3,55%
9	8	Hyundai	5.778	214	-36,8%	1,97%	0,66%
10	12	Peugeot	3.636	309	-18,5%	1,24%	0,95%
11	11	Mercedes	2.868		-54,3%	0,98%	0,00%
12	6	Chevrolet	2.650	163	-79,0%	0,90%	0,50%
13	13	Hino	2.646	381	-7,5%	0,90%	1,17%
14	14	Nissan	2.604	218	-8,6%	0,89%	0,67%
15	15	Lexus	1.511	117	157,0%	0,51%	0,36%
16	16	Changan	367	282		0,13%	0,86%

Rank 2019	Rank 2018	Group	Sales 2019	Sales December	+/- 2019	Share 2019	Share December
1	1	Toyota Group	83.012	8720	21,0%	28,28%	26,71%
2	2	Hyundai-Kia	44.130	2412	-14,1%	15,03%	7,39%
3	6	Renault Nissan Alliance	33.246	4095	156,8%	11,32%	12,54%
4	4	Honda Motor	33.102	2264	22,2%	11,28%	6,93%
5	3	Mazda	32.721	3330	0,0%	11,15%	10,20%
6	5	Ford Group	31.875	2796	28,6%	10,86%	8,56%
7	9	Isuzu Motors	14.170	7118	92,1%	4,83%	21,80%
8	8	Suzuki	11.786	1159	36,0%	4,01%	3,55%
9	11	P.S.A.	3.636	309	-18,5%	1,24%	0,95%
10	10	Mercedes Daimler	2.868	0	-54,3%	0,98%	0,00%

Rank 2019	Rank 2018	Model	Sales 2019	2019 Var	December Sales	December var
1	1	Toyota Vios	27170	-0,1%	3172	-13,3%
2	70	Mitsubishi Xpander	20098		2792
3	3	Mazda3 sedan	13761	2,3%	2831	172,7%
4	9	Honda CR-V	13337	51,2%	1074	35,9%
5	10	Ford Ranger	13319	53,5%	2526	31,0%
6	12	Toyota Fortuner	12663	109,8%	1541	14,5%
7	2	Toyota Innova	12161	-16,6%	1413	24,4%
8	5	Kia Cerato	11313	-3,1%	1050	-0,6%
9	4	Mazda CX-5	10221	-16,5%	1050	-5,1%
10	7	Honda City	9702	-10,6%	764	-30,3%

Vietnamese vehicles market grew 11.1% in 2018 reaching the second highest volume in history, ending the year with 278.352 units sold. Toyota is again the market leader – with 23.4% of market share – while Honda scored an impressive performance, gaining the 4th place.

Economic Environment

Vietnamese economy recorded its strongest annual expansion in a decade in 2018, rounded off by a surge in growth in the final quarter. A stellar performance from the services sector and brisk industry and construction activity powered the Q4 GDP print, while agricultural output also picked up. The manufacturing subsector was a star performer in Q4, and in 2018 overall, while flourishing tourism was also a key driver of growth. Momentum in the industrial sector should spill over into Q1 as seen by companies’ upbeat business confidence

The outlook for 2019 remains bright, although growth is expected to slow from 2018’s robust showing. FDI inflows are expected to support export-oriented sectors and fortify Vietnam’s expanding role as a manufacturing hub in the region. Greater economic integration should also buoy the external sector and bring a fresh wave of FDI inflows.

Market Trend

Vietnamese vehicles market have scored an impressive series of all time record ending the 2016 at 286.845 (including HCVs) units more than the double compared with the 2012. According to data released by VAMA, the local Association of Car Manufacturers, in the 2017 the market scored the first break after years with total vehicles sales at 250.615 units, down 12.6%.

In the 2018 the total vehicles market trend improved. Indeed, having ended the first part of the year with a stable trend, sales sharply increased during the second half, leading registrations to close at 278.352. Moreover, this is the largest annual volume in history, after the 2016, ending with a year-on-year gain of 11.1%.

Market	Sales 2014	Sales 2015	Sales 2016	Sales 2017	Sales 2018	'+/- 2018
Car+LCV	147.669	197.428	252.155	223.445	256.903	15,0%
HCV	36.131	28.912	34.690	27.171	21.449	-21,1%
Total	183.800	226.340	286.845	250.616	278.352	11,1%

At brand-wise, the 2018 market leader is Toyota sold 65.164 vehicles (+9.8%), with 23.4% of market share, followed by Kia with 42.205 sales (+4.2%) and Mazda with 32.726 (+25.8%).

The 2018 best-selling model is the Toyota Vios with 27.188 sales, followed by the Toyota Innova with 14.588 (+21.6%) and the Mazda3 sedan with 13.446 (+26.4%). In fourth place, the Mazda CX-5 with 12.243 units (+36%) is ahead of the Kia Cerato with 11.678 (+106.7%).

Research, Consulting, Data & Forecast

F2M covers intensively this market with several products developed to help any investigation required. Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2025. Auto Data in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end. All these and more within Vietnam Corner Store.

Rank 2018	Rank 2017		Sales 2018	Sales 2017	'+/- 2018	Share 2018
1	1	Toyota	65.164	59.355	9,8%	23,4%
2	2	Kia	42.205	40.497	4,2%	15,2%
3	4	Mazda	32.726	26.009	25,8%	11,8%
4	6	Honda	27.099	12.134	123,3%	9,7%
5	3	Ford	24.795	28.588	-13,3%	8,9%
6	5	Thaco	17.339	22.112	-21,6%	6,2%
7	7	Chevrolet	12.601	10.756	17,2%	4,5%
8	11	Mitsubishi	10.099	6.692	50,9%	3,6%
9	8	Hyundai	9.144	9.546	-4,2%	3,3%
10	12	Suzuki	8.663	5.531	56,6%	3,1%
11	9	Isuzu	7.378	8.824	-16,4%	2,7%
12	10	Mercedes	6.269	7.113	-11,9%	2,3%
13	18	Peugeot	4.463	421	960,1%	1,6%
14	14	VEAM	3.105	3.613	-14,1%	1,1%
15	13	Hino	2.860	4.760	-39,9%	1,0%
16	15	Nissan	2.849	2.202	29,4%	1,0%
17	16	Samco	766	1.395	-45,1%	0,3%
18	17	Lexus	588	948	-38,0%	0,2%
19	20	SYM	106	27	292,6%
20	22	Daewoo	70
21	21	MAZ	63	24	162,5%

Rank 2018	Rank 2017		Sales 2018	Sales 2017	'+/- 2018	Share 2018
1	1	Toyota Group	68.612	65.063	5,5%	24,6%
2	2	Hyundai-Kia	51.349	50.043	2,6%	18,4%
3	4	Mazda	32.726	26.009	25,8%	11,8%
4	6	Honda Motor	27.099	12.134	123,3%	9,7%
5	3	Ford Group	24.795	28.588	-13,3%	8,9%
6	5	Thaco	17.339	22.112	-21,6%	6,2%
7	8	Renault Nissan Alliance	12.948	8.894	45,6%	4,7%
8	7	General Motors	12.671	10.756	17,8%	4,6%
9	11	Suzuki	8.663	5.531	56,6%	3,1%
10	9	Isuzu Motors	7.378	8.824	-16,4%	2,7%

Rank 2018	Rank 2017	Model	Sales 2018	Sales 2017	'+/- 2018
1	1	Toyota Vios	27.188	27.188	0,0%
2	5	Toyota Innova	14.588	12.001	21,6%
3	6	Mazda3 sedan	13.446	10.639	26,4%
4	10	Mazda CX-5	12.243	9.003	36,0%
5	13	Kia Cerato	11.678	5.651	106,7%
6	7	Kia Morning	11.458	10.285	11,4%
7	11	Honda City	10.851	6.914	56,9%
8	8	Thaco Truck	10.679	9.653	10,6%
9	3	Kia K3000	9.085	13.710	-33,7%
10	21	Honda CR-V	8.819	3.522	150,4%
11	2	Ford Ranger	8.675	14.926	-41,9%
12	14	Hyundai Mighty	6.795	5.353	26,9%
13	4	Toyota Fortuner	6.035	13.023	-53,7%
14	12	Ford Transit Minibus	5.815	5.729	1,5%
15	18	Toyota Corolla	5.560	4.358	27,6%
16	19	Ford Ecosport	4.844	3.977	21,8%
17	9	Thaco DumpTruck	4.676	9.454	-50,5%
18	22	Toyota Camry	4.503	3.341	34,8%
18	16	Isuzu QKR	4.503	4.699	-4,2%
19	71	Peugeot 208	4.436	421	953,7%
20	17	Kia K2700	4.138	4.627	-10,6%
21	23	Chevrolet Colorado	3.978	3.082	29,1%
22	37	Suzuki Carry	3.483	2.014	72,9%
23	54	Mitsubishi Outlander	3.377	993	240,1%
24	20	Veam HCVs	3.307	3.613	-8,5%
25	47	Honda Civic sedan	3.099	1.301	138,2%
26	15	Hino 500	2.859	4.733	-39,6%
27	28	Ford Everest	2.792	2.205	26,6%
28	27	Chevrolet Spark	2.749	2.237	22,9%
29	38	Mazda2 sedan	2.669	1.980	34,8%
30	46	Kia Sedona	2.451	1.404	74,6%

Vietnam Vehicles Market in 2017 declined 12.6% after a series of 6 all time record in a row, maintaining untouched the high potential. Toyota gained 4% reinforcing the leadership in the market  ahead of Kia and Ford. Toyota Vios was the best-selling car.

Vietnamese economy ended 2017 on a stellar note, growing at the fastest annual pace in more than ten years in Q4. A standout performance in H2 made up for a more subdued pace of expansion in H1, propelling full-year 2017 GDP growth above the government’s 6.7% target, and making it one of the top performers worldwide. Among the key drivers of this noteworthy turnaround were a double-digit rise in exports, aided by a depreciation in the dong against the dollar, and a massive surge in foreign direct investment (FDI), which reached a record high in the year, according to Vietnam’s Statistical Institute.

Vietnamese vehicles market have scored an impressive series of all time record ending the 2016 at 286.845 (including HCVs) units more than the double compared with the 2012. According to data released by VAMA, the local Association of Car Manufacturers, in the 2017 the market scored the first break after year with total vehicles sales at 250.615 units, down 12.6% from the previous year.

At brand-wise (all vehicles including HCVs), the market leader Toyota further reinforced the dominion on the market, gaining 4.3% with 59.355 sales and 23.7% of share.

The second, Kia, with 40.497 sales has lost 23.4% while keeping a safe gap over the followers. Indeed, the third, Ford, sold 28.588 vehicles (+0.0%) and was followed by Mazda with 26.009 (-18.1%), Thaco (the local specialist of trucks and bus) with 22.112 (-22.5%), Honda 12.134 (+5.5%) and Chevrolet with 10.756 (+10.9%).

At model wise, the best-selling car was the Toyota Vios with 22.260 sales (+27.2%) followed by the Ford Ranger with 14.926 (+7.7%) and the Kia K3000 with 13.710 (-9.1%).

Research, Consulting, Data & Forecast

F2M covers intensively this market with several products developed to help any investigation required. Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2025. Auto Data in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end. All these and more within Vietnam Corner Store.

Rank 2017	Rank 2016	Brand	Sales 2017	Sales 2016	Variation 2017	Share 2017	Share 2016
1	1	Toyota	59.355	56.914	4,3%	23,7%	19,8%
2	2	Kia	40.497	52.878	-23,4%	16,2%	18,4%
3	4	Ford	28.588	28.578	0,0%	11,4%	10,0%
4	3	Mazda	26.009	31.744	-18,1%	10,4%	11,1%
5	5	Thaco	22.112	28.542	-22,5%	8,8%	10,0%
6	6	Honda	12.134	11.504	5,5%	4,8%	4,0%
7	7	Chevrolet	10.756	9.696	10,9%	4,3%	3,4%
8	9	Hyundai	9.546	9.266	3,0%	3,8%	3,2%
9	8	Isuzu	8.824	9.536	-7,5%	3,5%	3,3%
10	12	Mercedes	7.113	5.664	25,6%	2,8%	2,0%

Vietnam Auto Market 2016 outpace the milestone of 0.3 million sales while hitting the All Time record, the fourth in a row. Toyota still leader, but Kia is fast growing and reduced the gap by two third.

Vietnam’s economy decelerated in 2016 compared to the previous year, as agricultural output was hit by tough natural conditions, ranging from drought to salinization. The growth engine of the economy was once again manufacturing, rising at a double-digit rate and confirming Vietnam’s attractiveness for foreign direct investment, which is mainly aimed at the export-oriented manufacturing sector. In fact, exports of merchandise goods rose almost 30% annually in December and the trade balance swung back from a deficit in 2015 to a surplus in 2016

In the rapid country development, a crucial rule is taken by the automotive sector with fast growing local production and booming demand for new vehicles.

According to data released by VAMA, total vehicles sold in the year had been 301.802, beating the milestone of 0.3 million vehicles, and scoring the fourth All Time Record in a row.

In the light vehicles, the leader was again Toyota while losing share, now below the 20%, and is now under attack from the fast growing Kia, second with a gap reduced at almost 4.000 units from the 12.000 in the previous year.

Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.

Rank 2016	Rank 2015	BRAND	Sales 2016	Sales 2015	Variation 2016	Share 2016	Share 2015
1	1	Toyota	56.914	50.362	13,0%	19,8%	22,3%
2	2	Kia	52.878	38.627	36,9%	18,4%	17,1%
3	5	Mazda	31.744	20.359	55,9%	11,1%	9,0%
4	3	Ford	28.578	22.982	24,3%	10,0%	10,2%
5	4	Thaco	28.542	21.033	35,7%	10,0%	9,3%
6	6	Honda	11.504	8.312	38,4%	4,0%	3,7%
7	7	Chevrolet	9.696	7.345	32,0%	3,4%	3,2%
8	8	Isuzu	9.536	7.091	34,5%	3,3%	3,1%
9	10	Hyundai	9.266	6.466	43,3%	3,2%	2,9%
10	9	Suzuki	7.540	6.824	10,5%	2,6%	3,0%
11	12	Mitsubishi	6.052	4.237	42,8%	2,1%	1,9%
12	13	Mercedes	5.664	3.597	57,5%	2,0%	1,6%
13	14	VEAM	4.130	3.160	30,7%	1,4%	1,4%
14	11	Hino	3.851	5.919	-34,9%	1,3%	2,6%
15	17	Volkswagen	2.316	1.789	29,4%	0,8%	0,8%
16	16	Nissan	2.260	2.295	-1,5%	0,8%	1,0%
17	18	BMW	1.872	1.512	23,8%	0,7%	0,7%
18	21	Lexus	1.829	901	103,0%	0,6%	0,4%
19	20	Samco	1.825	1.309	39,4%	0,6%	0,6%
20	25	MG	1.524	612	149,0%	0,5%	0,3%

Rank 2016	Rank 2015	Group	Sales 2015	Sales 2016	Variation 2016	Share 2016	Share 2015
1	1	Toyota	57.182	62.594	9,5%	23,0%	26,9%
2	2	Hyundai-Kia	38.627	52.878	36,9%	19,5%	18,2%
3	5	Mazda	20.359	31.744	55,9%	11,7%	9,6%
4	3	Ford	22.982	28.578	24,3%	10,5%	10,8%
5	4	Thaco	21.033	28.542	35,7%	10,5%	9,9%
6	6	Honda	8.312	11.504	38,4%	4,2%	3,9%
7	7	General Motors	7.407	9.828	32,7%	3,6%	3,5%
8	8	Isuzu Motors	7.091	9.536	34,5%	3,5%	3,3%
9	9	Suzuki	6.824	7.540	10,5%	2,8%	3,2%
10	10	Mercedes Daimler	4.379	6.516	48,8%	2,4%	2,1%

Rank 2016	Rank 2015	Model	Sales 2016	Sales 2015	2016 Variation
1	2	Toyota Vios	17.500	13.761	27,2%
2	1	Kia K3000	15.082	14.201	6,2%
3	6	Kia Morning	14.874	8.376	77,6%
4	5	Ford Ranger	13.859	8.685	59,6%
5	7	Mazda3 sedan	12.054	5.987	101,3%
6	4	Toyota Fortuner	11.583	9.781	18,4%
7	3	Toyota Innova	11.254	9.985	12,7%
8	10	Mazda CX-5	8.778	4.768	84,1%
9	9	Ford Transit Minibus	6.750	5.600	20,5%
10	18	Honda City	5.778	3.186	81,4%
11	15	Ford Ecosport	5.415	3.977	36,2%
12	17	Hyundai Mighty	5.357	3.235	65,6%
13	8	Toyota Corolla	5.217	5.926	-12,0%
14	12	Honda CR-V	5.101	4.533	12,5%
15	19	Kia K2700	4.770	2.973	60,4%
16	11	Toyota Camry	4.674	4.679	-0,1%
17	16	Kia Rio	4.045	3.951	2,4%
18		Kia Cerato	3.900
19	24	Suzuki Super Carry	3.509	1.799	95,1%
20	14	Mazda BT-50	3.411	4.328	-21,2%
21	21	Chevrolet Cruze Sedan	3.111	2.721	14,3%
22	13	Kia K3	2.841	4.332	-34,4%
23	20	Toyota Yaris	2.575	2.796	-7,9%
24	25	Kia Sorento	2.561	1.615	58,6%
25	26	Toyota Hilux	2.235	1.597	39,9%

To see all data and analysis on this market, see also the research dedicated to this market:

Vietnam Vehicles Market in 2015 hit the new record doubling volumes in only three years. Behind the leadership of Toyota, several brands performed really fast with Mazda better than all others. The top model is Korean.

Economic Outlook

Vietnam was one of the few bright spots in Asia last year the economy closed 2015 with a robust 6.7% growth thanks to a strong rise in industrial production. The reading marked an acceleration from the 6.0% tallied in 2014 and was the best result since 2007.

The increase also overshot the government’s expectations of 6.2% growth. In hopes of carrying the positive momentum forward, the Communist Party of Vietnam opened the eight-day-long National Congress on 20 January, in which the party will choose the political leadership and define the economic roadmap of the country for the next five years.

Even though the congress is closed to the media, analysts are confident that the economic and political course of the country will not vary significantly. Analysts predict that Vietnam will ratify the Trans-Pacific Partnership (TPP) and that it will avoid antagonizing China amid territorial disputes in the South China Sea.

Market Outlook

According to data collected in the market by focus2move from the VAMA, the Vietnam Associations of Car Manufacturers, and few independent importers, in the 2015 the domestic vehicles market flourished again sustained by solid economic perspectives, low circulating car fleet and growth of the middle class demand.

The market hit the new all time record at 225.160, flying over the barrier of the 200k units for the very first time and already looking ahead towards a potential to double volume in the next five years.

The 2015 increase was a solid +22.8% over the 2014. The market pathway is impressive if you consider only three-year ago it was below the 100.000!

Please note that from this month onwards, we will report about total vehicles sales (cars, plus all commercials) while so far we have reported only about light vehicles (without heavy trucks and bus).

Toyota was the leader with a record of 50.362 sales (+23.4%) ahead of Kia with 38.627 (+75.5%) and Ford with 22.982 (+64.3%).

The domestic producer of HCV, Thaco ranked in fourth pace with 21.034 vehicles sold ahead of Mazda with 20.359 (+115.7%), the fastest growing brand of the year, Honda with 8.312 (+28.0%) and Chevrolet with 7.345 (+182%)

The best-selling models was the Kia k300o with 14.301 units (+75.2%) ahead of the Toyota Vios with 13.761 units (+49.8%) and the Toyota Innova with 9.985 units (+26.5%).

Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.

To see all data and analysis on this market, see also the just published research:

In 2014 Vietnam New Vehicle Market hit the all-time record with a tremendous improvement from the previous year at 142.352 units, thanks to soaring economy and new vehicles tax reduction.

In December 2014 according to data collected in the market by VAMA, the Vietnam Associations of Car Manufacturers and by independent importers, total new Light Passengers Vehicles sold have been 16.067, up 29.4% from the correspondent month last year.

The market is living a wonderful momentum with a robust growth scored during the entire year.

Full Year 2014 sales have been 142.352, up 40.9% from 2013 hitting the new all-time record, doubling volume compared with only two years ago.

A strong increase in the national GDP, higher pro capita income and the new ASEAN tax regulation will further boost this market in the next years.

With over 28% of market share, Toyota was the market leader in the 2014, followed by Kia with 15.3% of share and Ford with 9.8%.

 As far as the car group’s performance and ranking, the leader was Toyota with 28.9% of market share, ahead of Hyundai-Kia with 22.0% and Ford with 9.8%.

As far as best-selling models ranking, the Toyota Vios was on top with 9.187 (+78.7%), followed by the Toyota Fortuner with 8.589 units (+3.9%) and Toyota Innova with 7.895 (+31.3%).

To see all data and analysis on this market, see also the just published research:

Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.

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