Ford Ranger: Dominating the Vietnamese Pickup Truck Market

Ford Ranger remains the best-selling pickup truck in Vietnam in the first quarter. Photo: Ford.

The Vietnam Automobile Manufacturers’ Association (VAMA) reported that in March, the total number of automobiles sold in the Vietnamese market reached 27,289 units, a growth of 135% compared to the previous period. Among these, passenger cars accounted for 19,014 units, representing a 135% increase.

Strong Sales Performance of Pickup Trucks

In the pickup truck segment, the combined sales of Ford Ranger, Mitsubishi Triton, Isuzu D-Max, Mazda BT-50, and Toyota Hilux in March reached 1,802 units, an increase of 841 units from the previous period. The Ford Ranger maintained its position as the most popular pickup truck in Vietnam, with sales of 1,539 units in the last month of the first quarter, representing a growth of nearly 75%. Since the beginning of the year, the Ford Ranger has accumulated sales of 3,562 units, leading the pickup truck segment and also temporarily topping the overall Vietnamese automobile market.

With 216 units sold in March, the Mitsubishi Triton remained the second most favored pickup truck in Vietnam. In the first three months of the year, Triton achieved cumulative sales of 435 units, outperforming competitors such as the Isuzu D-Max, Mazda BT-50, and Toyota Hilux.

Isuzu D-Max, despite not experiencing explosive growth, recorded sales of 47 units in March, bringing its year-to-date sales to 76 units.

At the bottom of the sales chart, both the Mazda BT-50 and Toyota Hilux failed to record any sales in the last month of the first quarter. Cumulatively, Thaco delivered only 5 units of the Mazda BT-50 to Vietnamese customers, while Toyota has not registered any Hilux orders in the Vietnamese market so far this year.

However, Toyota has confirmed that the next generation of the Toyota Hilux will arrive at Vietnamese dealerships in the second quarter, offering a total of three versions with a starting price of 668 million VND. Meanwhile, Mazda has not shown any signs of improving the situation for the BT-50, despite consistently poor sales performance in the last two months.

Earlier this year, Thaco adjusted the price of the Mazda BT-50 downwards, along with several other models under the same brand. Following the adjustment, the Mazda BT-50 pickup truck is now priced between 554 million and 614 million VND.

Ford Ranger’s Dominance in the Pickup Truck Segment

While the Toyota Hilux and Mazda BT-50 are struggling to gain a foothold in the Vietnamese market, the Ford Ranger has solidified its position as the “king of pickup trucks,” at least in terms of sales performance.

With a total of 3,562 units sold in Vietnam since the beginning of the year, the Ford Ranger’s sales figure is almost seven times higher than the combined sales of all its competitors in the same period. This performance translates to the Ford Ranger holding more than 87% of the market share in the pickup truck segment in Vietnam.

This dominance has led many to believe that even with the introduction of new generations or upgraded versions of competitors like the Toyota Hilux or Mitsubishi Triton, the Ford Ranger’s reign is unlikely to be threatened anytime soon.

Last year, the Ford Ranger was also the top-selling pickup truck in Vietnam, with a total of 16,085 units delivered to customers. This accounted for nearly 80% of the total sales of 20,122 units achieved by the entire pickup truck segment in the Vietnamese market.

Upcoming Exciting Developments

In 2024, the Ford Ranger has further strengthened its position by introducing the Stormtrak version for Vietnamese customers. With many of its competitors stagnating or declining in sales, the Ford Ranger is poised to reinforce its “king of pickup trucks” status, which it has held for a considerable period.

Looking ahead, the VinFast VF Wild, a domestically produced electric pickup truck, is expected to enter the Vietnamese market and compete directly with the Ford Ranger and other existing players in the segment. However, it is too early to discuss the VF Wild’s ability to challenge the Ford Ranger in terms of sales, as VinFast has not yet disclosed detailed specifications of this electric pickup truck.

The VinFast VF Wild, a potential competitor to the Ford Ranger in the Vietnamese market. Photo: VinFast

Additionally, BYD, the world’s best-selling green car brand from China, will soon enter the Vietnamese market. BYD has recently revealed images of a hybrid pickup truck similar in size to the Toyota Hilux, which the company plans to launch in Australia and South Africa in the near future. According to various sources, BYD will focus on distributing this model in Australia, South Africa, New Zealand, and Southeast Asian countries, including Vietnam.

In conclusion, the Vietnamese pickup truck market is expected to witness exciting developments and surprises in the future. However, until these new variables come into play, the segment is likely to remain the stronghold of the Ford Ranger, as it continues to assert its dominance and outperform its competitors in sales performance.

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