Vietnam auto sales extend recovery, up 7.5% to 225,583 in Jan-Sept

Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 225,583 units in the first nine months of 2024, up 7.5% year-on-year.

The figure is a continuous improvement after a long slump. After a 33% year-on-year expansion in 2022, the automobile market dropped 25% year-on-year to 301,989 units in 2023 and inched down 2% to 134,884 in the first half of 2024.

The market made its first recovery with a 1% increase in January-July, then 2% hike in January-August.

In January-September of 2024, the auto sales included 168,245 passenger cars, up 7.5% year-on-year; 55,564 commercial vehicles, up 7.4%; and 1,774 special-purpose vehicles, up 5.6%.

The number of completely knocked down (CKD) vehicles sold was 113,641, down 7.5% year-on-year; and that of completely-built-up (CBU) units was 111,942, a 28.5% rise.

September sales of 36,585 vehicles, featuring 28,973 passenger cars, 7,367 commercial vehicles, and 245 special-purpose vehicles, went up 45% from a month earlier and 44% year-on-year. The CKD and CBU units sold in the month were 19,500 and 17,085, respectively.

Outside VAMA, Hyundai sold 40,907 units in the nine-month period, according to a report by TC Group, manufacturer and official retailer of the South Korean brand’s vehicles in Vietnam. Its September sales volume was 6,518 units, up 39.3% from August.

As a result, Hyundai was the best-selling brand in Vietnam in the first nine months of this year, followed by Toyota (40,503), Ford (28,038), Mitsubishi (27,933), KIA (22,948), Mazda (21,274), and Honda (17,654).

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 60,546 units in the period.

Mitsubishi Xpander, a multi-purpose vehicle (MPV), topped the September sales chart with 2,688 units; followed by Mazda CX-5, a sport utility vehicle (SUV), with 1,856; Toyota Vios, a sedan, with 1,842; and Mitsubishi Xforce, a five-seater SUV, with 1,821.

Regarding the January-September sales chart, Mitsubishi Xpander topped the competition with 12,956 units; followed by Ford Ranger, a pickup truck, with 11,766; Mitsubishi Xforce with 9,963; and Mazda CX-5 with 9,240.