Vietnam auto sales down 5% Jan-May, up 24% in May

Members of the Vietnam Automobile Manufacturers' Association (VAMA), which does not include VinFast and Hyundai, sold 108,309 units in the first five months of 2024, down 8% year-on-year.

The total comprised 77,351 passenger cars, down 7% year-on-year; 30,022 commercial vehicles, up 2%; and 936 special-purpose vehicles, down 13%.

The number of completely knocked down (CKD) vehicles sold was 54,887, down 14% year-on-year; and that of completely-built-up (CBU) units was 53,422, an 8% hike.

May sales of 25,794 vehicles – 18,235 passenger cars, 7,292 commercial vehicles and 267 special-purpose vehicles – marked a 24% increase year-on-year and up 6% from the previous month. The numbers of CKD and CBU units sold in the month were 11,985 and 13,809, respectively.

Outside VAMA, Hyundai sold 19,334 units in January-April, according to a report by TC Group, manufacturer and official retailer of the South Korean brand’s vehicles in Vietnam. Its May sales figure was 4,914 units, up 14.9% from one month ago.

As a result, Hyundai was the best-selling brand in Vietnam in the five-month period, followed by Toyota (17,160), Ford (14,344), Mitsubishi (11,709), KIA (11,133), and Mazda (10,117).

Vietnamese conglomerate Thaco, which manufactures and sells KIA, Mazda, Peugeot and BMW vehicles apart from its own Thaco trucks and buses, recorded total sales of 29,756 units in the period.

Mitsubishi Xpander, a multi-purpose vehicle (MPV), was the best-selling model in May with 1,766 units; followed by Ford Ranger, a pickup truck with 1,477; and Toyota Corolla Cross, a sport utility vehicle (SUV) with 996.

Mitsubishi Xpander also topped the Jan-May sales chart with 6,537 units; followed by Ford Ranger with 6,301; Hyundai Accent with 4,020; and Mazda CX-5 with 4,011.