Vietnam Full Year 2023: Mitsubishi Xpander takes the lead, market off -23.7%

The Mitsubishi Xpander tops the Vietnamese charts for the first time.

Discover over 20 years of Vietnam Historical Data here.

The Vietnamese new vehicle market is in freefall in 2023 at -23.7% to 388,531 sales, keeping in mind 2022 was a record year at 509,141 units. This year Hyundai (-17.3%) improves its market share to 17.4% and leaps two spots to #1. Toyota (-37%) sees its share diminish from 17.9% to 14.8% while Thaco-Kia (-31.2%) goes from 16.3% to 14.7%. Ford (+32.9%) is the only island of growth in the Top 12 and surges three ranks to #4. Mazda (-1.2%) resists very well at #4 with 9.2% of the market vs. 7.1% in 2022. VinFast (-6.3%) stays at #8 but did not report sales from October onwards.

Model-wise, we have a big change on top with the Mitsubishi Xpander (-10.2%) taking charge with a dominant 5.1% share. This is only the third non-Toyota model to rank as annual #1 in the past 20 years alongside the Kia Morning in 2011 and the VinFast Fadil in 2021. The Hyundai Accent (-22.9%) remains in 2nd place while the Mazda CX-5 (+32.3%) is up five spots to land on the third step of the podium and was #1 from August to November. The Ford Ranger (-2.2%) also advances in the ranking, to #4, whereas the Toyota Vios (-42.5%), #1 last year and for 7 consecutive years until 2020, implodes to #5. Outstanding performance for the Kia Sonet (+20.3%) up 10 ranks to #6, as for the Ford Everest (+42.7%) up 12 to #9.

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

Two years ago: Vietnam 2021: VinFast Fadil ends 9 years of Toyota dominance in market up 2.5%

Full December 2023 Top 18 All manufacturers and Top 70 All models below.

Full Year 2023 Top 18 All manufacturers and Top 74 All models vs. Full Year 2022 figures below.