Vietnam’s 2023 auto sales fall 25% to 301,989 units

The Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 301,989 vehicles in 2023, down 25% year-on-year.

The sales breakdown was 230,706 passenger cars, down 27% year-on-year; 69,078 commercial vehicles, down 16%; and 2,205 special-purpose vehicles, down 56%.

The number of completely knocked down (CKD) vehicles sold was 181,380, down 20% year-on-year; and that of completely-built-up (CBU) units was 120,609, a 32% drop.

December sales of 38,740 vehicles marked a 10% year-on-year hike and a 39% increase from the month before. This comprised 32,133 passenger cars, 6,407 commercial vehicles, and 200 special-purpose vehicles. The numbers of CKD and CBU units were 24,044 and 14,696, respectively.

Outside VAMA, Hyundai reported sales of 67,450 units in 2023, according to a report by TC Group, the manufacturer and official retailer of Hyundai vehicles in Vietnam. Its December sales figure was 10,884, up 36.4% after a month.

As a result, Hyundai was the best-selling brand in Vietnam last year. Other top players were Toyota with 57,414; Ford with 38,322; Mitsubishi with 30,894; Honda with 23,802; and Suzuki with 13,317.

Vietnamese conglomerate Thaco, which makes and sells various brands including KIA, Mazda, Peugeot, BMW and its own Thaco trucks and buses, recorded total sales of 97,718 units, becoming the leading seller. This included 40,773 KIA and 35,632 Mazda cars; and 14,535 Thaco trucks.

Mitsubishi Xpander, a multi-purpose vehicle (MPV) was the best-selling model in Vietnam last year with 19,740 units, followed by Hyundai Accent, a sedan, with 17,452; Mazda CX-5, a sport utility vehicle (SUV), with 16,808; Ford Ranger, a pickup truck, with 16,085; and Toyota Vios, a sedan and the best-selling model in 2022, with 13,521.