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Vietnam May 2023: VinFast VF 8 most popular in devastated market (-48.8%)

The VinFast VF 8 is the best-selling vehicle in Vietnam in May.

According to local manufacturers association VAMA, new vehicle sales in Vietnam sink -52.7% year-on-year in May to just 20,726 units, leading to a year-to-date tally off -35.7% to 113,527. When adding Hyundai and VinFast EV who report separately from VAMA, the market is down -48.8% to 27,297 for the month and off -34.8% YTD to 143,998.

In the manufacturers aisle, Thaco-Kia (-60.2%) reclaims the top spot for the first time since last July with 14.7% share but remains #3 year-to-date. Toyota (-64.7%) follows with 13.7% share while Hyundai (-44.9%) falls to third place but stays #1 so far this year. VinFast EVs hold onto the 4th spot with a splendid 11% share with Ford (-3.1%) resisting very well at #5. Below, we find Mazda (-47.4%), Mitsubishi (-45%), Suzuki (-1.5%) and Honda (-44.8%). 

As far as models are concerned, we have another surprise in the pole position: one month after the VinFast VF e34 took the lead, it is now the time of the Vinfast VF 8 to snap the top spot with 4.7% share. In 2nd place and up 475.1% year-on-year is the Suzuki Super Carry, now ranking #14 year-to-date. The Mitsubishi Xpander (-40.8%) is back up three ranks on last month to #3 and is still #1 year-to-date. The Honda City (-37.8%) and Toyota Corolla Cross (-40.9%) round out the Top 5. The VinFast VF e34 (+114.3%) ranks 6th for the month and 7th so far this year.

Previous month: Vietnam April 2023: Vinfast VF e34 overall best-seller, VF 8 in 4th place, market off -40.5%

One year ago: Vietnam May 2022: Toyota Vios back in charge in market surging 71.3%

Full May 2023 Top 18 All brands and Top 65 All models below.

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