Vietnam's auto sales up 17% to 308,544 in Jan-Nov
Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 308,544 units in the first 11 months of 2024, up 17% 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, 7.5% in January-September, and 12% in January-October.
In the first 11 months of this year, the auto sales included 233,325 passenger cars, up 18%; 72,871 commercial vehicles, up 16%; and 2,348 special-purpose vehicles, up 17%.
The number of completely knocked down (CKD) vehicles sold was 159,868, up 1.6% year-on-year; and that of completely-built-up (CBU) units was 148,676, a 40% rise.
November sales of 44,200 vehicles featured 34,835 passenger cars; 9,017 commercial vehicles; and 348 special-purpose vehicles. The total figure went up 14% from a month earlier and 58% year-on-year. The CKD and CBU units sold in the month were 25,114 and 19,086, respectively.
Outside VAMA, Hyundai sold 58,849 units in the 11-month period, according to a report by TC Group, manufacturer and official retailer of the South Korean brand’s vehicles in Vietnam. Its November sales volume was 10,303 units, up 34.9% from October.
VinFast, the electric vehicle (EV) arm under Vietnamese private conglomerate Vingroup, does not provide monthly data.
As a result, Hyundai was the best-selling brand in Vietnam in the first 11 months of this year, followed by Toyota (57,934), Ford (38,683), Mitsubishi (37,390), KIA (32,518), Mazda (29,755), and Honda (25,893).
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 84,031 units in the period.
A Mitsubishi Xpander. Photo courtesy of Mitsubishi Motors Vietnam.
Mitsubishi Xpander, a multi-purpose vehicle (MPV), topped the November sales chart with 2,422 units; followed by Mazda CX-5, a sport utility vehicle (SUV), with 2,408; Honda City, a sedan, with 2,327; Ford Ranger, a pickup truck, with 2,257; and Toyota Vios, a sedan, with 2,137.
Regarding the January-November sales chart, Mitsubishi Xpander topped the competition with 17,509 units; followed by Ford Ranger with 15,904; Mazda CX-5 with 13,656; and Mitsubishi Xforce with 13,267.
- Related News
- Read More
Vietnam's stock market regulator appoints 2 new vice chairpersons
The State Securities Commission of Vietnam (SSC) has appointed Nguyen Hoang Duong and Le Thi Viet Nga as its new vice chairpersons.
Finance - Thu, October 23, 2025 | 4:14 pm GMT+7
Vinhomes chairman appointed CEO of VinSpeed
Pham Thieu Hoa, chairman of Vinhomes, has been appointed CEO of VinSpeed, a newly established company specializing in railway construction.
Companies - Thu, October 23, 2025 | 3:40 pm GMT+7
De Heus, Hung Nhon to invest $380 mln in high-tech agriculture hub in southern Vietnam
Dutch agribusiness group Royal De Heus and Vietnam’s Hung Nhon Group plan to invest VND10 trillion ($380 million) to develop a high-tech agricultural ecosystem in Tay Ninh province between 2025 and 2030.
Industries - Thu, October 23, 2025 | 2:35 pm GMT+7
Consumer finance major F88’s credit rating upgraded on improved funding capability, liquidity
Vietnamese credit ratings agency FiinRatings has upgraded F88's credit rating from “BBB-” to “BBB”, with a “stable” outlook, citing the company's enhanced capital-raising ability and improved liquidity position.
Companies - Thu, October 23, 2025 | 2:00 pm GMT+7
Vietnam's benchmark VN-Index could surpass 2,000 points in 2026: exec
VN-Index could top 2,000 points next year, said Huynh Minh Tuan, founder of FIDT - a Ho Chi Minh City-based investment consulting firm.
Finance - Thu, October 23, 2025 | 10:55 am GMT+7
Key factors helping firms export to demanding markets: DH Foods exec
Don’t treat business as a week-to-week or month-to-month affair. To go the distance, you must conduct business ethically, writes Nguyen Trung Dung, CEO of DH Foods.
Consulting - Thu, October 23, 2025 | 8:00 am GMT+7
Gold exchange, gold derivatives, gold ETFs proposed to be launched in Vietnam
Forming a gold exchange under state management in Vietnam is suitable to the reality, said Dao Xuan Tuan, head of the foreign exchange management department under the State Bank of Vietnam (SBV).
Finance - Wed, October 22, 2025 | 9:00 pm GMT+7
Real estate major Novaland wins key approval for $5 bln project in central Vietnam
Novaland Group (HoSE: NVL), one of Vietnam’s leading property developers, has received investment approval for its flagship project worth $5 billion in the central province of Lam Dong after years of delay due to legal obstacles.
Real Estate - Wed, October 22, 2025 | 4:20 pm GMT+7
Vietnam's plastics heavyweights Tien Phong, Binh Minh report profit surges
Tien Phong Plastic (HNX: NTP) recorded pre-tax profit of nearly VND949 billion ($36.04 million) in the first nine months of the year, exceeding its full-year target by 10.85%, while Binh Minh Plastic (HoSE: BMP) achieved record net profit of VND350 billion ($13.29 million) in Q3, surpassing its VND330 billion milestone set in the previous quarter.
Companies - Wed, October 22, 2025 | 4:17 pm GMT+7
Vietnam, Finland firms sign multiple MoUs on satellite, cybersecurity, aviation partnerships
A series of cooperation agreements were signed between Vietnam and Finland on Tuesday, within the framework of Party chief To Lam's official visit to Helsinki, while bilateral relationship was lifted to a "strategic partnership".
Economy - Wed, October 22, 2025 | 12:43 pm GMT+7
Trung Nam Ca Na seeks to convert agri-forest land for $147 mln industrial park in central Vietnam
Industrial park developer Trung Nam Ca Na is seeking approval to convert about 170 hectares of agricultural and forest land for the construction of a VND3,875 billion ($147 million) project in Vietnam’s central coastal province of Khanh Hoa.
Industrial real estate - Wed, October 22, 2025 | 10:54 am GMT+7
PV Power's arm posts 5-fold jump in Q3 profit on margin recovery
PetroVietnam Power Nhon Trach 2 JSC (HoSE: NT2) reported a sharp rebound in third-quarter earnings as improved margins and higher revenue lifted profits nearly fivefold from a year earlier.
Companies - Wed, October 22, 2025 | 8:37 am GMT+7
TCBS overtakes SSI to become Vietnam’s largest securities company by market cap
Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.
Finance - Tue, October 21, 2025 | 10:27 pm GMT+7
Indonesia’s palm oil industry becomes investment magnet
Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.
Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7
Indonesia reports strong job, investment growth
The Indonesian Coordinating Ministry for Economic Affairs reported strong job and investment growth during the first year of President Prabowo Subianto’s administration, compared with the first year under his predecessor.
Southeast Asia - Tue, October 21, 2025 | 9:29 pm GMT+7
Singapore grants conditional approval for 1GW low-carbon power import from Malaysia
Singapore has granted conditional approval to import 1 GW of low-carbon electricity from the Malaysian state of Sarawak, marking a new phase in the energy partnership between the two countries.
Southeast Asia - Tue, October 21, 2025 | 9:26 pm GMT+7
