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Vietnam August 2022: Market surges 180.5% on weak year-ago volume, Mitsubishi Xpander #1, Hyundai Creta up to #4

The Hyundai Creta breaks its Vietnamese volume record in August.

According to figures shared by VAMA, new vehicle sales in Vietnam surge 247.2% year-on-year in August to 30,846 units on a particularly weak August 2022 volume (-57%) impacted by Covid-19. The year-to-date volume is now up 49.9% to 262,940, making Vietnam one of the best performing markets in the world so far this year. These figures climb to 37,515 (+180.5%) for the month and 328,630 (+38.3%) year-to-date once adding Hyundai and VinFast who report sales separately.

Toyota (+196.9%) is up two spots on July to take the lead of the brands ranking with 17.9% share vs. 16.8% so far this year. The rest of the podium trails the market with Thaco-Kia (+138.8%) at 16.4% vs. 18.1% YTD and Hyundai (+149.7%) at 14.5% both in August and YTD. Mitsubishi (+1471.6%) scores the largest year-on-year gain in market and is up 16-fold on its August 2021 volume, hitting 10.8% share vs. 8% YTD. Isuzu (+798.2%), Mazda (+256%) and Peugeot (+285.7%) also beat the market in the remainder of the Top 10. In contrast local manufacturer VinFast (-47.2%) is in complete freefall at 3.3% share vs. a record 17.3% a year ago.

Model-wise, the Mitsubishi Xpander (+2800%) easily repeats at #1 with 7.6% share and now ranks #2 year-to-date, 493 sales below the Toyota Vios (+14.8%) down to #6 this month. Like in July, the Toyota Avanza+Veloz ranks #2 overall, this time with 4.8% of the market vs. 2.7% YTD (#9). The Toyota Corolla Cross (+106.3%) rallies back up 6 spots on last month but vastly trails the market year-on-year. The new Hyundai Creta is up four spots to a record 4th place ahead of the Hyundai Accent (+64.6%) underperforming. The Mazda3 (+767%), VinFast Lux A2.0 (+234.3%) and Mazda CX-5 (+231.3%) also outpace the market further down in the Top 10.

Previous month: Vietnam July 2022: Mitsubishi Xpander clear leader in market up 60.1%

One year ago: Vietnam August 2021: VinFast (+54.6%) up to record 17.3% share in devastated market  (-51.4%)

Full August 2022 Top 18 all brands and Top 70 models below.

Note: The brands ranking includes medium and heavy commercial vehicles, the models ranking does not. BMW, Lexus, Mini and Peugeot don’t share models data for Vietnam.

Vietnam August 2022 – brands:

PosBrandAug-22%/21Jul2022%/21PosFY21
1Toyota6,70117.9%196.9%355,35116.8%57.6%23
2Thaco-Kia6,13716.4%138.8%159,64218.1%47.6%12
3Hyundai5,44914.5%149.7%247,63814.5%18.4%31
4Mitsubishi4,03910.8%1471.6%426,4008.0%62.5%46
5Mazda3,0908.2%256.0%624,6707.5%60.6%55
6Honda1,4954.0%163.7%823,1737.1%71.6%68
7Ford1,3153.5%175.7%712,6043.8%-6.8%87
8VinFast1,2203.3%-47.2%518,0525.5%-18.1%74
9Isuzu1,0152.7%798.2%107,3222.2%43.9%1110
10Peugeot8872.4%285.7%118,2142.5%103.7%1011
11Suzuki8642.3%678.4%911,0703.4%50.3%99
12Hino4341.2%416.7%123,7851.2%30.4%1212
13Hyundai Trucks1000.3%11.1%141,4120.4%-23.7%1313
14Lexus950.3%102.1%131,1380.3%54.4%1414
15BMW+Mini320.1%n/a158210.2%n/a1515
16Samco270.1%n/a171470.0%0.0%1717
17VEAM190.1%46.2%164080.1%28.3%1616
18Daewoo Bus170.0%n/a18380.0%-47.9%1818

Vietnam August 2022 – models:

PosModelAug-22%/21Jul2022%/21PosFY21
1Mitsubishi Xpander2,8427.6%2800.0%113,6974.2%54.7%27
2Toyota Avanza+Veloz1,7864.8%n/a28,8852.7%27665.6%967
3Toyota Corolla Cross1,5664.2%106.3%913,3684.1%83.6%34
4Hyundai Creta1,4173.8%new85,2681.6%new18 –
5Hyundai Accent1,1723.1%64.6%312,8353.9%10.2%42
6Toyota Vios1,1333.0%14.8%514,1904.3%18.7%13
7Mazda CX-51,1002.9%231.3%189,5102.9%68.3%711
8Mazda38932.4%767.0%156,6162.0%126.0%1619
9VinFast Lux A2.08492.3%234.3%63,6831.1%-14.0%2415
10Hyundai Santa Fe8382.2%114.9%76,7072.0%-0.6%158
11Kia Sedona/Carnival8322.2%2277.1%107,3532.2%631.6%1232
12Hyundai Tucson7652.0%214.8%165,2571.6%23.4%1913
13Kia Sonet7522.0%new146,3991.9%new1742
14Honda City7392.0%364.8%1110,9513.3%82.1%512
15Toyota Raize6901.8%new254,5921.4%new2353
16Ford Everest6841.8%2106.5%472,7130.8%-21.1%3218
17Kia Sportage6551.7%n/an/a1,3990.4%n/a43 –
18Kia Seltos6341.7%-23.8%229,0532.8%2.8%85
19Kia K35901.6%50.1%238,5202.6%39.2%1010
20Toyota Fortuner5511.5%698.6%205,0341.5%49.4%2014
21Honda CR-V4421.2%33.9%216,8442.1%86.5%1317
22Mitsubishi Attrage4381.2%534.8%244,9151.5%35.0%2116
23Hyundai Grand i104361.2%10.7%176,7402.1%-10.7%149
24Mitsubishi Triton4021.1%755.3%133,5771.1%105.5%2528
25Ford Transit3801.0%985.7%331,3200.4%164.5%4651
26Mazda CX-83681.0%308.9%362,6530.8%10.7%3331
27Mitsubishi Outlander3520.9%802.6%273,3401.0%136.4%2837
28Suzuki XL73510.9%996.9%194,5981.4%75.4%2221
29Toyota Innova3380.9%3280.0%301,7920.5%-1.6%3934
30VinFast Fadil3290.9%-83.9%1210,6613.2%-29.4%61
31Toyota Corolla3270.9%1716.7%262,2640.7%123.7%3540
32Kia Sorento3200.9%185.7%343,4021.0%-2.1%2723
33Mazda23120.8%262.8%282,0720.6%14.1%3733
34Kia Soluto3050.8%348.5%323,0470.9%0.9%3024
35Suzuki Carry2770.7%515.6%293,0180.9%48.4%3129
36Suzuki Super Carry2200.6%685.7%392,3770.7%116.7%3438
37Kia Morning2120.6%116.3%383,4541.1%34.7%2627
38Toyota Camry2080.6%210.4%313,2211.0%23.8%2926
39Ford Ranger1760.5%-55.6%47,9152.4%-8.2%116
40Honda Civic1600.4%841.2%421,5210.5%14.5%4141
41Honda HR-V1410.4%907.1%441,7220.5%125.4%4047
42Mazda CX-301200.3%200.0%371,1650.4%253.0%4952
43Mazda CX-31050.3%69.4%431,3560.4%76.8%4543
44Kia K51040.3%new401,3010.4%new47 –
45Mazda61020.3%104.0%417870.2%16.6%5148
46Mazda BT-50900.2%-14.3%495110.2%-36.4%5545
47Ford Explorer750.2%n/a565450.2%18066.7%5468
48VinFast Lux SA2.0370.1%362.5%351,5000.5%-43.2%4220
49Toyota Prado370.1%208.3%503110.1%1.6%6054
50Toyota Land Cruiser290.1%-9.4%591720.1%-1.7%6359
51Isuzu D-Max280.1%n/a466070.2%640.2%5358
52Toyota Yaris280.1%40.0%484640.1%-36.1%5849
53Isuzu MU-X280.1%2700.0%532600.1%165.3%6162
54Suzuki Swift100.0%400.0%554300.1%28.7%5955
55Honda Accord90.0%350.0%521830.1%144.0%6263
56Toyota Alphard80.0%n/a58550.0%44.7%6564
57VinFast VF e3450.0%new452,2080.7%new3666
58Mitsubishi Pajero Sport50.0%25.0%578710.3%46.4%5050
59Honda Brio40.0%-91.1%541,9520.6%17.8%3836
60Suzuki Ciaz40.0%33.3%61210.0%-93.1%6856
61Suzuki Ertiga20.0%100.0%516260.2%-30.7%5246
62Hyundai Elantra00.0%-100.0%601,3630.4%-9.2%4435
63Hyundai Kona00.0%-100.0% –1,2650.4%-52.3%4822
64Toyota Wigo00.0%-100.0% –4880.1%-66.0%5639
65Toyota Rush00.0%-100.0% –4640.1%-74.7%5730
66Ford Ecosport00.0%-100.0% –870.0%-89.5%6444
67Toyota Hiace00.0%-100.0% –360.0%-41.9%6660
68Ford Tourneo00.0%n/a –240.0%-81.3%6761
69Toyota Hilux00.0%-100.0% –110.0%-99.6%6925
70Toyota Granvia00.0%n/a –50.0%66.7%7069

Source: VAMA, Hyundai, VinFast

This Post Has 3 Comments
  1. Curious what caused the severe VinFast drop (-47%), and this in a soaring market

    It’s appears to be an international oriented, well financed and dynamic entity, at the point of ‘conquering’ the US and EU

    1. I’d be cautiously treating it as a one-off for now, as August 2021 was an exceptionally good month for the brand with a record 17.3% share. It may also mean the brand has plateaued at home and it’s time for international expansion!

      1. Merci!

        Makes sense.
        Fact remains that even at 8/2021 levels (ca 2200). it’s volume is way off that of the Top 5.
        Likely a case of ‘silence before the storm’

        Have to admit the Europe-oriented designteam at VinFast have done good work. The models Europeans will receive first (VF8 and VF9) don’t look half bad

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