Vietnam September 2024: Mitsubishi Xpander reclaims lead in surging market (+37.5%)

The Mitsubishi Xpander is the best-selling vehicle in Vietnam both this month and YTD.

Local association VAMA has the Vietnamese new vehicle market surging 44.2% year-on-year in September to 36,585 units, leading to a year-to-date volume up 7.5% to 225,585. These figures climb to 43,103 (+37.5%) and 266,210 (+6%) when adding Hyundai which reports separately from VAMA. The reason behind this market surge is the adoption by the government of a reduced 50% of the ownership tax.

Toyota (+69.6%) manages to outrun the market to hold onto the brands top spot with 16.2% share, one percentage point above its YTD level of 15.2%. It remains #2 YTD however below Hyundai (+9.1%), disappointing this month. Similarly Thaco-Kia (+8.9%) is weak at #3. Mitsubishi on the other hand is up 88.1% to 12.5% share vs. 10.5% YTD. Isuzu (+63.7% also shines while Ford (+27.2%) and Honda (+41.2%), although displaying significant gains, just can’t catch up with the market growth.

The Mitsubishi Xpander (+40.1%) reclaims the top spot in the models charts both for the month and year-to-date. As a reminder the Xpander already finished first over the Full Year 2023. The Mazda CX-5 (-8.3%) advances one spot on August to #2 ahead of the Toyota Vios (+23.1%) also up one rank to #3. Leader for the past two months, the Mitsubishi Xforce falls to #4 and ranks #3 year-to-date. It’s an excellent month for the Honda City (+121.1%) up 14 spots on last month to #5. 

Previous month: Vietnam August 2024: Mitsubishi Xforce repeats at #1, Ford Ranger now #1 YTD

One year ago: Vietnam September 2023: Mazda CX-5 repeats at #1 in depleted market

Full September 2024 Top 16 All brands and Top XX All models below.