Vietnam January 2023: Ford (+130.7%) ignores freefalling market (-45.5%)

The Ford Everest is up to 4th place in Vietnam in January.

Local association VAMA has the Vietnamese new vehicle market down an abysmal -43.7% year-on-year to 17,314 sales. When adding non VAMA members (Hyundai and some of VinFast sales) the cume comes up at 21,168 units, off -47.4% year-on-year. VinFast has recently stopped reporting all its models monthly sales, so likes for likes the market falls -45.5%. 

Hyundai (-52.9%) leads the brands ranking despite a hefty loss ahead of FY2022 leader Toyota (-52.5%) and Thaco Kia (-61.2%). Ford (+130.7%) goes completely against the freefalling market and ranks 4th with 11.1% share vs. 5.7% over FY2022. All remaining Top 10 brands fall even faster than the market with Peugeot (-81.3%), Isuzu (-76%) and Mitsubishi (-68%) the hardest hit.

Model-wise, the Hyundai Accent (-57.3%) is the best-seller ahead of a very solid Ford Ranger (+26.6%) and the Toyota Corolla Cross (-49.4%). At a record 4th place, the Ford Everest (+501.6%) is up 6-fold year-on-year to 3.6% share vs. 1.4% over FY2022, fully benefiting from the arrival of the new generation.   The new Hyundai Creta, Toyota Veloz and Ford Territory all make it into the Top 10. Notice also the Suzuki Carry (+107.7%) in great shape at #11.

Previous post: Vietnam 2022: Toyota Vios reclaims lead in record market (+24.1%)

One year ago: January-February: Hyundai Accent and Toyota Corolla Cross shine in market up 27.6%

Full January 2023 Top 17 all brands and Top 63 all models below.