Vietnam March 2024: Mitsubishi Xforce lands directly at #3

The Mitsubishi Xforce is an instant blockbuster in Vietnam.

According to data by local association VAMA, the Vietnamese new vehicle market drops -9.2% year-on-year in March to 27,289 sales, leading to a year-to-date tally down -17.4% to 58,165. This is a much better result than the -49.5% of last month. When adding Hyundai figures reported separately from VAMA, the monthly tally climbs to 31,831 (-8.8%) and 68,309 YTD (-18.9%).

In the manufacturers ranking, Hyundai (-21.3%) reclaims the top spot it holds year-to-date off Thaco-Kia (-22.9%) for just 200 sales. Toyota (-31.7%) climbs back up three spots on February but suffers year-on-year. Ford (-5.2%) and Mitsubishi (-5.9%) manage to contain their losses but Honda (+90.2%) ignores the negative market at #6. Suzuki (+8.2%) and Isuzu (+1.4%) also impress.

The Mitsubishi Xpander (-30.9%) is back to pole position despite a dreadful drop but still ranks #2 year-to-date. Leader last month, the Ford Ranger (+4%) falls to #2 but retains the YTD leader. The performance of the month is delivered by the new Mitsubishi Xforce landing directly at #3 with 4.2% of the market. The Honda City (+28.1%) and HR-V (+125.2%) both post fantastic gains in the remainder of the Top 10.

Previous month: Vietnam February 2024: Ford Ranger triumphs in imploding market (-52%)

One year ago: Vietnam March 2023: Ford once again defies struggling market (-20.7%)

Full March 2024 Top 16 All brands and Top 70 All models below.

Note: The brands ranking includes medium and heavy commercial vehicles, the models ranking does not.

Vietnam March 2024 – brands:

Pos Brand Mar-24 % /23 Feb 2024 % /23 Pos FY23
1 Hyundai 4,542 14.3% – 21.3% 2 10,144 14.9% – 31.2% 1 1
2 Thaco-Kia 4,342 13.6% – 22.9% 1 9,664 14.1% – 23.2% 2 3
3 Toyota 3,865 12.1% – 31.7% 6 7,321 10.7% – 46.0% 4 2
4 Ford 3,486 11.0% – 5.2% 3 7,821 11.4% – 9.8% 3 4
5 Mitsubishi 3,439 10.8% – 5.9% 7 6,050 8.9% – 14.5% 6 6
6 Honda 2,832 8.9% + 90.2% 5 6,119 9.0% + 40.1% 5 7
7 Mazda 2,350 7.4% – 12.3% 4 5,677 8.3% – 17.1% 7 5
8 Suzuki 1,750 5.5% + 8.2% 8 4,011 5.9% + 12.3% 8 9
9 Isuzu 866 2.7% + 1.4% 9 1,700 2.5% + 1.2% 9 10
10 Hino 283 0.9% – 3.1% 12 483 0.7% – 22.3% 11 12
11 Peugeot 231 0.7% – 7.6% 10 622 0.9% – 12.0% 10 11
12 Hyundai Trucks 186 0.6% + 190.6% 14 391 0.6% + 77.7% 12 15
13 BMW+Mini 159 0.5% + 17.8% 11 372 0.5% – 18.4% 13 13
14 Lexus 108 0.3% – 43.8% 13 300 0.4% – 2.9% 14 14
15 Samco 24 0.1% – 14.3% 15 104 0.2% + 197.1% 15 16
16 Daewoo Bus 12 0.0% – 29.4%  – 12 0.0% – 47.8% 16 18

Vietnam March 2024 – models:

Pos Model Mar-24 % /23 Feb 2024 % /23 Pos FY23
1 Mitsubishi Xpander 1,582 5.0% – 30.9% 2 3,508 5.1% – 21.1% 2 1
2 Ford Ranger 1,539 4.8% + 4.0% 1 3,562 5.2% – 2.6% 1 4
3 Mitsubishi Xforce 1,334 4.2% new  – 1,334 2.0% new 12  –
4 Honda City 1,043 3.3% + 28.1% 3 2,165 3.2% – 11.7% 5 10
5 Hyundai Accent 967 3.0% – 28.6% 6 2,248 3.3% – 43.0% 4 2
6 Toyota Vios 934 2.9% – 11.0% 22 1,757 2.6% – 20.0% 9 5
7 Mazda CX-5 912 2.9% – 10.7% 4 2,319 3.4% – 5.5% 3 3
8 Ford Everest 899 2.8% – 17.4% 7 2,035 3.0% – 18.9% 6 9
9 Honda HR-V 759 2.4% + 125.2% 8 1,842 2.7% + 201.5% 8 28
10 Kia Sonet 751 2.4% – 25.8% 5 1,889 2.8% – 5.8% 7 6
11 Toyota Yaris Cross 702 2.2% new 30 1,155 1.7% new 16 34
12 Suzuki XL7 677 2.1% + 114.2% 15 1,346 2.0% + 75.5% 10 39
13 Honda CR-V 649 2.0% + 185.9% 23 1,080 1.6% + 15.9% 18 19
14 Ford Territory 602 1.9% – 22.4% 14 1,212 1.8% – 34.7% 13 13
15 Hyundai Grand i10 598 1.9% – 9.9% 10 1,341 2.0% – 40.3% 11 14
16 Ford Transit 583 1.8% + 100.3% 21 1,009 1.5% + 83.5% 21 26
17 Toyota Veloz 569 1.8% – 37.7% 26 968 1.4% – 59.5% 23 12
18 Hyundai Creta 549 1.7% – 47.0% 12 1,200 1.8% – 54.7% 14 7
19 Suzuki Carry 545 1.7% + 33.6% 19 1,190 1.7% – 4.4% 15 32
20 Kia Carnival 498 1.6% – 7.8% 9 1,105 1.6% – 8.4% 17 21
21 Mazda2 453 1.4% + 2.7% 11 1,075 1.6% + 3.6% 19 25
22 Toyota Raize 392 1.2% – 39.3% 20 836 1.2% – 50.2% 25 24
23 Mazda3 350 1.1% – 16.7% 13 982 1.4% – 18.6% 22 15
24 Kia Seltos 340 1.1% – 54.7% 16 1,066 1.6% – 28.0% 20 11
25 Kia Carens 332 1.0% + 16.1% 17 837 1.2% + 9.1% 24 30
26 Hyundai Tucson 294 0.9% – 4.2% 31 620 0.9% – 15.2% 30 18
27 Toyota Wigo 288 0.9% n/a 24 520 0.8% n/a 35 45
28 Hyundai Custin 284 0.9% new 29 655 1.0% new 28 46
29 Suzuki Carry Pro 284 0.9% new 18 620 0.9% new 31 67
30 Honda BR-V 272 0.9% new 28 727 1.1% new 26 35
31 Kia K3 272 0.9% – 22.3% 34 552 0.8% – 37.2% 33 33
32 Hyundai Venue 264 0.8% new 25 607 0.9% new 32 69
33 Hyundai Santa Fe 258 0.8% – 49.8% 27 520 0.8% – 61.4% 34 16
34 Toyota Innova Cross 231 0.7% new 55 272 0.4% new 48 61
35 Mitsubishi Triton 216 0.7% – 39.2% 41 435 0.6% – 25.5% 37 38
36 Mazda CX-3 214 0.7% + 18.9% 43 422 0.6% – 15.6% 38 48
37 Toyota Fortuner 211 0.7% – 44.8% 35 360 0.5% – 62.3% 42 31
38 Mazda CX-8 202 0.6% – 21.7% 32 482 0.7% – 21.5% 36 36
39 Toyota Avanza 196 0.6% – 47.6% 36 408 0.6% – 52.4% 39 29
40 Mazda CX-30 181 0.6% + 9.7% 38 286 0.4% – 38.5% 46 47
41 Mitsubishi Attrage 176 0.6% – 73.7% 42 393 0.6% – 70.9% 40 22
42 Suzuki Ertiga 167 0.5% + 234.0% 49 632 0.9% + 371.6% 29 54
43 Kia Sportage 153 0.5% – 49.7% 40 338 0.5% – 57.9% 44 42
44 Hyundai Elantra 149 0.5% – 38.2% 39 378 0.6% – 46.3% 41 37
45 Toyota Camry 131 0.4% – 58.4% 37 315 0.5% – 60.3% 45 41
46 Hyundai Palisade 109 0.3% new 45 241 0.4% new 49 63
47 Honda Civic 98 0.3% – 8.4% 46 274 0.4% – 24.3% 47 53
48 Mitsubishi Outlander 91 0.3% – 59.6% 54 191 0.3% – 59.6% 51 40
49 Toyota Corolla Cross 80 0.3% – 94.5% 33 357 0.5% – 89.6% 43 8
50 Kia Morning 73 0.2% – 57.1% 48 182 0.3% – 62.0% 53 49
51 Toyota Innova 64 0.2% – 74.3% 47 727 1.1% + 29.6% 27 44
52 Ford Explorer 63 0.2% + 53.7% 50 203 0.3% + 107.1% 50 65
53 Kia Sorento 49 0.2% – 73.4% 53 144 0.2% – 68.6% 55 50
54 Isuzu D-Max 47 0.1% – 59.8% 62 76 0.1% – 67.7% 60 62
55 Mitsubishi Pajero Sport 40 0.1% – 66.1% 60 189 0.3% – 16.7% 52 58
56 Mazda6 38 0.1% – 63.8% 58 106 0.2% – 65.6% 58 55
57 Suzuki Jimny 38 0.1% new  – 38 0.1% new 63  –
58 Toyota Corolla 37 0.1% – 79.6% 51 122 0.2% – 74.7% 57 52
59 Suzuki Swift 32 0.1% – 13.5% 52 164 0.2% + 69.1% 54 64
60 Kia Soluto 32 0.1% – 68.9% 56 92 0.1% – 67.7% 59 56
61 Kia K5 24 0.1% – 76.0% 59 74 0.1% – 68.8% 61 57
62 Toyota Land Cruiser 19 0.1% – 32.1% 57 54 0.1% – 47.6% 62 60
63 Honda Accord 11 0.0% + 175.0% 61 31 0.0% + 158.3% 65 73
64 Toyota Alphard 11 0.0% + 0.0% 64 22 0.0% – 29.0% 66 70
65 Isuzu MU-X 10 0.0% – 23.1% 63 35 0.1% + 2.9% 64 66
66 Suzuki Super Carry Pro 6 0.0% – 99.3% 65 17 0.0% – 98.7% 67 20
67 Suzuki Ciaz 1 0.0% – 66.7%  – 4 0.0% – 42.9% 70 74
68 Hyundai Stargazer 0 0.0% – 100.0% 44 130 0.2% – 87.9% 56 27
69 Toyota Yaris 0 0.0% – 100.0% 66 8 0.0% – 88.2% 68 72
70 Mazda BT-50 0 0.0% – 100.0%  – 5 0.0% – 98.1% 69 59

Source: VAMA, Hyundai

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