Ford Ranger sales slump amid tough pickup truck segment

The Ford Ranger sales in May did not reach 1,000 units. Photo: Bối Hạ.

In the context of the Vietnamese automobile market with modest purchasing power, many pickup truck models unexpectedly experienced slight growth, except for the Ford Ranger and Mazda BT-50.

According to a report by the Vietnam Automobile Manufacturers’ Association (VAMA), the sales of the entire pickup truck segment in May reached 1,193 units, a 35% decrease compared to the previous month.

Decline in Ford Ranger Sales

In May, Ford Vietnam sold 932 units of the Ranger, a 34.6% decrease compared to the previous month. This is the first time this pickup truck’s sales have dropped so low since the beginning of the year.

With sales of under 1,000 units per month, the Ford Ranger fell out of the top 3 best-selling vehicles in the market in May. However, compared to other competitors in the segment, the number of Ford Ranger sales still dominates the entire group, accounting for 78% of the market share.

Previously, this pickup truck also received many incentives from dealerships to clear the inventory of 2022 VIN vehicles. Currently, the 2023 Ford Ranger models have also been reduced to stimulate demand.

Specifically, employees at a Ford dealership in Ho Chi Minh City said they would offer an additional 50% vehicle registration fee exemption for customers purchasing the Ford Ranger in June. Thus, the promotion for this model will cover 100% of the vehicle registration fee. Additionally, customers who place orders will also receive a cash discount of 5-15 million VND, depending on the version.

“Ford Vietnam is offering an additional 50% registration fee exemption in addition to the government’s support to create opportunities for customers to own vehicles at a lower cost,” the employee added.

The Mazda BT-50 also experienced a decline in sales due to the overall sluggishness of the automotive market. Previously, this model had a period of narrowing the gap with the Mitsubishi Triton, with an average monthly sales of over 85 units. In the second month of the second quarter, Thaco sold 71 Mazda BT-50 units, a decrease of 3 units compared to April.

In the first 5 months of the year, Mazda BT-50 sold 405 units, temporarily ranking as the third best-selling model in the entire segment. Thaco Vietnam is distributing the Mazda BT-50 with 4 versions at the listed prices ranging from 659 to 849 million VND.

Sharp Increase in Mitsubishi Triton Sales Thanks to Promotion

Mitsubishi Triton ended May successfully with a recovery in sales after a sharp decline. In May, Mitsubishi Vietnam delivered 142 Triton units, an increase of nearly 45% compared to the previous month. In the first 5 months of the year, the sales of the Mitsubishi Triton reached 824 units, making it the second best-selling pickup truck in the market after the Ford Ranger.

The significant sales growth in May was largely attributed to various promotional programs that Mitsubishi implemented to stimulate purchasing. In June, this pickup truck continues to offer discounts with a total value of up to 110 million VND.

Mitsubishi Triton had good sales growth in May. Photo: Bối Hạ.

In addition to the “3 Nos” support package for registration fees and interest rates, customers who purchase this pickup truck in June will receive an additional one-year physical damage insurance and a roll cover worth 20 million VND. However, this program is only applicable to customers who purchase Mitsubishi Triton VIN 2022 vehicles.

Customers who purchase 2023 models will still receive a 50% registration fee exemption and complimentary genuine accessories. This pickup truck is currently distributed in the Vietnamese market with a total of 4 versions, with prices ranging from 690 to 905 million VND.

Slower Group Continues to Show Growth Momentum

After a long absence from the Vietnamese market due to not meeting emission requirements, the Toyota Hilux returned in March and gradually established stable purchasing power with consecutive sales growth despite the sluggish market. In May, this pickup truck continued to sell 23 units, bringing the total number of vehicles sold to 56 units.

However, although its sales have not declined, the Toyota Hilux still cannot escape from being in the slowest-selling group in the market. In Vietnam, Toyota Hilux is currently distributed with one version, with a listed price ranging from 852 to 860 million VND depending on the exterior color.

Despite not experiencing a decline in sales, Toyota Hilux has not been able to create competitive edge against its segment competitors. Photo: Bối Hạ.

Meanwhile, the sales of Isuzu D-Max also showed slight growth in May thanks to deep discounts from the company. Specifically, Isuzu Vietnam sold 25 D-Max units in May, an increase of 6 units compared to April. However, sales below 20 units per month still do not help Isuzu D-Max surpass the Mazda BT-50.

In June, Isuzu D-Max continues to offer significant discounts at many dealerships to improve sales. According to a survey by reporters, some Isuzu dealerships are willing to offer discounts of over 100 million VND for 2022 VIN vehicles and include a gift package worth 15 million VND. Currently, Isuzu D-Max is distributed in Vietnam with 4 versions, with prices ranging from 650.1 to 880 million VND.

In general, the Ford Ranger has a significant impact on the pickup truck segment as it has consistently topped the group for a long time. The decline in Ford Ranger sales, despite the positive growth of many other models, still causes the entire segment to struggle with a considerable decrease in sales.

It is predicted that automakers will continue to maintain promotions for pickup trucks in the coming months, providing customers with the best prices.

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