Vietnam February 2024: Ford Ranger triumphs in imploding market (-52%)

The Ford Ranger is #1 in Vietnam in February.

VAMA data shows a Vietnamese market imploding -49.5% year-on-year to just 11,633 sales and off -23.5% to 30,876. When adding Hyundai who reports separately from VAMA, these figures climb to 13,666 (-52%) and 36,478 (-26%). According to VAMA, the horrendous market dynamic is partly due to the Lunar New Year holidays happening in February this year vs. January in 2023, but also the expiration of the 50% registration fee reduction on January 1 and the broader economic challenges.

Thaco-Kia (-49.5%) takes the lead of the brands ranking with 16.1% share, toppling Hyundai (-62.8%) while Ford (-36.8%) resists somewhat to remain third. Mazda (-45.5%) is up two spots on January to #4, Honda (-8.7%) stays at #5 with a splendid hold whereas Toyota (-74.5%) freefalls to an unusual 6th place. In the remainder of the Top 10, Peugeot (-29.5%), Suzuki (-39.4%) and Isuzu (-44.4%) beat the market.

In the models lane, the Ford Ranger (-27.8%) triumphs at 6.4% share, lodging its first monthly win since October 2022. It is now also #1 year-to-date vs. #4 over the Full Year 2023. The Mitsubishi Xpander (-55.6%) is bumped down to #2 while the Honda City (-27.1%) is up 8 spots on January to #3. Meanwhile the Mazda CX-5 (-41%) stays at #4 above the Kia Sonet (-29%) and Hyundai Accent (-76.7%). The Honda HR-V (+271.1%) goes completely against the market with a sensational year-on-year lift.

Previous month: Vietnam January 2024: Mitsubishi Xpander and Ford Ranger top market up 9.6%

One year ago: Vietnam February 2023: Hyundai and Accent keep lead in market up 5.7%

Full February 2024 Top 15 All brands and Top 66 All models below.