Vehicle sales in Vietnam drop 22% in Q1

Sales by members of the Vietnam Automobile Manufacturers' Association (VAMA), which does not include VinFast and Hyundai, plunged 22% year-on-year to 70,392 in the first quarter of 2023.

They included 52,712 passenger cars, down 26% year-on-year; 16,924 commercial vehicles, down 5%; and 756 special-purpose vehicles, down 48%.

The number of completely knocked down (CKD) vehicles hit 36,692, down 34% year-on-year; and that of completely-built-up (CBU) units fell 4% to 33,700.

In March, VAMA’s vehicle sales plunged 25% year-on-year to 26,266. They included 19,727 passenger cars, 6,340 commercial vehicles, and 199 special-purpose vehicles.

Regarding non-VAMA members, VinFast delivered 915 electric vehicles to customers in March, featuring the 395 VF 8, 469 VF e34, and 51 VF 9 models.

As a result, in the first three months of this year, VinFast delivered 1,689 units, including 865 VF 8, 773 VF e34, and 51 VF 9 models. The VF 9 is an SUV and the latest model dispatched to customers.

Hyundai reported sales of 14,736 units, down 21.1% year-on-year, including 5,773 in March, according to a report by TC Group, the manufacturer and official retailer of Hyundai vehicles in Vietnam.

Hyundai was the best-selling brand in the first quarter of this year. Other top sellers in the country were Toyota with 13,566; Ford with 8,668; KIA with 8,600; Mitsubishi with 7,080; Mazda with 6,845; and Honda with 4,368.

Vietnamese conglomerate Thaco, known for manufacturing and selling vehicles like KIA, Mazda, Peugeot, BMW, and its own brand Thaco for trucks and buses, recorded total sales of 20,599.

Multi-purpose vehicle the Mitsubishi Xpander was the best-selling model in the period with 4,444 units, followed by the Hyundai Accent with 3,943 and Ford Ranger with 3,656.