Vietnamese Auto Market: Pickup Truck Sales Surged in March 2024
The Vietnamese automotive market experienced a surge in pickup truck sales during March 2024, positively impacting the overall segment. Most pickup truck models witnessed a significant growth in sales. However, Mazda BT-50 and Toyota Hilux remained the only exceptions, reporting zero sales for the month.
| **STT** | **Model** | **March 2024** | **February 2024** | **Growth/Decline** | **Year-to-Date 2024** |
| 1 | Ford Ranger | 1,537 | 880 | +74.8% | 3,562 |
| 2 | Mitsubishi Triton | 216 | 70 | +208.5% | 435 |
| 3 | Isuzu D-Max | 47 | 11 | +327.2% | 76 |
| 4 | Mazda BT-50 | 0 | 0 | – | 5 |
| 5 | Toyota Hilux | 0 | 0 | – | 0 |
Pickup Truck Sales Table for March 2024 (in units)
Ford Ranger: 1,537 Units
During March 2024, Vietnamese consumers purchased a total of 1,537 Ford Ranger units, reflecting a remarkable 74.8% growth. With this impressive performance, the Ford model continues to dominate the pickup truck segment, maintaining a significant lead over its competitors. Notably, the Ford Ranger also ranks second in overall market sales, trailing only the Mitsubishi Xpander.
Ford Ranger
The Ford Ranger has consistently been the preferred choice for Vietnamese buyers seeking pickup trucks. In its latest generation, the Ranger’s position has been further strengthened by its modern and visually appealing design, comprehensive amenities and safety features, and a diverse range of variants and price points.
In April 2024, the Ford Ranger lineup welcomed a new addition: the Stormtrak. This variant stands as the most premium version of the pickup truck, replacing the Wildtrak. The Ford Ranger Stormtrak carries a price tag of 1.039 billion VND. With the introduction of the Stormtrak, the Ford Ranger portfolio in Vietnam now comprises a total of eight variants (excluding the Raptor), with prices ranging from 669 million to 1.039 billion VND.
Under the hood of the Ford Ranger lie two diesel engine options with a 2.0L displacement. The first is a single-turbo engine generating a maximum power output of 167 horsepower and 405 Nm of peak torque. This engine pairs with a 6-speed manual or a 6-speed automatic transmission. The second is a twin-turbo engine, providing 207 horsepower and 500 Nm, coupled with a 10-speed automatic transmission.
Mitsubishi Triton: 216 Units
In comparison to its rival, the Ford Ranger, the Mitsubishi Triton exhibited an even higher sales growth rate of 208.5%. Specifically, the Mitsubishi model achieved 216 units in sales during March 2024, securing the second spot in the pickup truck segment.
Mitsubishi Triton
To sustain the Triton’s sales momentum, Mitsubishi is continuing its promotional campaign throughout April 2024. Under this campaign, the Mitsubishi Triton will benefit from a 50% reduction in registration fees, a one-year physical damage insurance policy, and a rearview camera worth 2.5 million VND for the GLX 4×2 AT MIVEC variant. The Athlete GLS 4×2 AT and Athlete GLS 4×4 AT variants will receive a 50% reduction in registration fees and a one-year physical damage insurance policy.
Recently, the next-generation Mitsubishi Triton was spotted on Vietnamese roads. This sighting indicates that the vehicle’s official launch in Vietnam is imminent, possibly within this year, aiming to enhance its competitive edge against the Ford Ranger.
The Mitsubishi Triton is currently priced between 650 and 905 million VND in Vietnam. Equipping the vehicle is a 2.4L MIVEC DI-D Hi-Power diesel engine, producing a maximum power output of 181 horsepower and 430 Nm of peak torque. This engine pairs with a 6-speed automatic transmission, either a rear-wheel-drive or a four-wheel-drive system.
Isuzu D-Max: 47 Units
The model with the highest sales growth rate within the pickup truck segment during March 2024 was not the Ford Ranger or the Mitsubishi Triton but the Isuzu D-Max. This Japanese model recorded 47 units sold last month, representing an astonishing 327.2% increase. However, the Isuzu D-Max’s actual sales volume remains relatively modest, ranking it only third in the segment.
Isuzu D-Max
In comparison to the aforementioned rivals, the Isuzu D-Max carries a more competitive price tag, ranging from 665 to 880 million VND for its three variants. The pickup truck’s amenity and safety features are also comparable within the segment. Unfortunately, the Isuzu D-Max falls short in terms of design appeal.
Powering the Isuzu D-Max is a 1.9L, four-cylinder diesel engine, generating a maximum power output of 150 horsepower and 350 Nm of peak torque. The engine is coupled with a 6-speed automatic transmission and either a rear-wheel-drive or a four-wheel-drive system.
Mazda BT-50: 0 Units
Similar to February 2024, the Mazda BT-50 failed to secure any sales in March. Since the beginning of the year, this model has only managed to achieve an accumulative sales figure of 5 units.
Mazda BT-50
The underlying reasons behind the Mazda BT-50’s zero sales performance in the past two months remain unclear. It is possible that the model is currently experiencing a shortage in dealership inventory. Alternatively, the Mazda BT-50 might be anticipating the arrival of its next-generation model, which recently made its debut in the Thai market.
The Mazda BT-50 currently holds the distinction of being the most affordable pickup truck in its segment, with prices ranging from 554 to 614 million VND for its two available variants. Despite its attractive pricing, the Japanese model has yet to gain significant traction among consumers, largely due to its underwhelming design. Moreover, the Mazda BT-50 shares its engine with the Isuzu D-Max.
Toyota Hilux: 0 Units
Like the Mazda BT-50, the Toyota Hilux also reported zero sales in March 2024. This marks the third consecutive month in which the pickup truck model has failed to record any sales in Vietnam.
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