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Vietnam March 2023: Ford (+108.5%) once again defies struggling market (-20.7%)

Ford Everest sales are up 117.2% year-on-year in Vietnam.

Based on data by local automotive association VAMA, the Vietnamese new vehicle market recedes -18.7% year-on-year to 30,038 registrations, bringing the Q1 2023 volume to 70,392, off -22.2% on the same period a year ago. When adding non VAMA members (Hyundai and some of VinFast sales), the figures climb to 35,811 for the month (-24.6%) and 85,902 year-to-date (-25.9%). However VinFast recently stopped sharing sales data, so likes for likes the market is down -20.7% in March (34,896) and -22.9% YTD (84,213).

Hyundai (-18.3%) retains the lead in the manufacturers but its advantage over Toyota (-29.1%) slims down to just 117 units while Thaco-Kia (-35.5%) sinks in third place. Once again Ford (+108.5%) is completely oblivious to the market fall thanks to a few new models as we’ll see further down. Mitsubishi (-0.5%) is stable, Mazda (-19.4%) beats the market but Suzuki (-32.9%), Honda (-58.7%) and Isuzu (-37.5%) freefall.

Model-wise, the Mitsubishi Xpander (+41.1%) surges ahead to easily top the charts outright with 6.4% share. It snaps the YTD leadership in the process. The Ford Ranger (+59.5%) takes advantage of the new generation at #2 as does the Ford Everest (+117.2%) at #5. Meanwhile the Toyota Corolla Cross (-38.3%) and last month’s leader the Hyundai Accent (-33.3%) struggle mightily. Notice also the Hyundai Creta (+1816.7%) at #7 and the Kia Sonet (+83%) hitting its highest ranking since June 2022 at #9.

Previous month: Vietnam February 2023: Hyundai and Accent keep lead, market up 5.7%

One year ago: Vietnam March 2022: VinFast Fadil leads, Toyota Corolla Cross up to #1 YTD

Full March 2023 Top 17 manufacturers and Top 65 models below.

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