The Vietnam Automobile Manufacturers Association (VAMA) recently announced its sales figures for November 2024. The association reported a significant increase in sales for the month, largely attributed to the government’s policy of supporting a 50% reduction in registration fees for domestically produced and assembled vehicles.
Specifically, VAMA members sold a total of 44,200 vehicles in November, reflecting a 14% growth compared to the previous month. This included 34,835 passenger cars, 9,017 commercial vehicles, and 348 specialized vehicles. Passenger car sales increased by 15%, commercial vehicles by 9%, and specialized vehicles by a substantial 54% from the previous month.
Additionally, domestically assembled vehicles accounted for 25,114 units sold, a 19% increase from the previous month, while completely built-up imported vehicles recorded sales of 19,086 units, representing an 8% rise.
Despite the robust growth in Vietnam’s automobile market in November 2024, there were still models that failed to capture customer interest. The following 10 models, featured in the list of lowest-selling vehicles for the month, exemplify this trend.
| Rank | Model | November 2024 Sales (Units) | October 2024 Sales (Units) | Growth Rate |
| 1 | Honda Accord | 10 | 4 | +150% |
| 2 | Toyota Alphard | 18 | 16 | +12.5% |
| 3 | Toyota Camry | 23 | 76 | -69.7% |
| 4 | Toyota Land Cruiser | 31 | 65 | -52.3% |
| 5 | Isuzu mu-X | 32 | 23 | +39.1% |
| 6 | Kia K5 | 36 | 37 | -2.7% |
| 7 | Toyota Corolla Altis | 39 | 55 | -29% |
| 8 | Suzuki Jimny | 41 | 33 | +24.2% |
| 9 | Ford Explorer | 60 | 41 | +46% |
| 10 | Toyota Land Cruiser Prado | 72 | 0 | – |
10 lowest-selling cars in Vietnam for November 2024.
Similar to the previous month, the Honda Accord maintained its position as the lowest-selling model in the Vietnamese market for November 2024, with only 10 units sold. Although it experienced a 150% growth rate compared to October 2024, the absolute sales volume of the Honda Accord remained modest, keeping it at the bottom of the sales chart.
The second-lowest selling model for November was the Toyota Alphard, a luxury MPV often referred to as a “land jet.” With only 18 units sold, the Alphard witnessed a modest increase of 12.5% in sales. The primary reason for the lackluster performance of both the Honda Accord and Toyota Alphard in Vietnam is their high price tags, with selling prices of VND 1.319 billion and VND 4.37 billion, respectively.
Perhaps the most surprising entry in the top 10 list is the Toyota Camry, occupying the third position. In November, Toyota sold just 23 Camry units to Vietnamese customers, representing a significant drop of 69.7% from the previous month. However, this decline is not due to a lack of appeal but rather Toyota’s strategy to clear out old inventory to make way for the new generation Camry, which was unveiled at the VMS 2024 exhibition with three versions and prices ranging from VND 1.22 billion to VND 1.53 billion.
Following the Camry is its sibling, the Toyota Land Cruiser, which recorded sales of just 31 units, a 52.3% decrease from October 2024. This is not surprising, as the Land Cruiser has always been a niche vehicle catering to a specific audience.
Isuzu mu-X takes the fifth spot, with 32 units sold and a growth rate of 39.1%. Similar to the Honda Accord and Toyota Alphard, the Isuzu mu-X frequently appears in the list of lowest-selling models due to its uninspiring design and features.
November 2024 continued to showcase the struggles of the Kia K5, with sales of just 36 units, a 2.7% decline. This makes it the third sedan in the D-segment to feature in the lowest-selling list, with only the Mazda6 absent from this ranking.
Ranking seventh, the Toyota Corolla Altis sold 39 units, a 29% drop in sales. This marks the fourth consecutive month that this C-segment sedan has been among the lowest-selling cars in the market, indicating a downward trend for the model in Vietnam, possibly due to its outdated design and lack of significant upgrades.
In eighth place is the Suzuki Jimny, with sales of 41 units, representing a 24.2% increase. In the Vietnamese market, this off-road SUV, often likened to a “mini Mercedes-Benz G-Class,” carries a high price tag starting at VND 789 million. Additionally, its compact size, basic convenience features, and safety equipment, along with its limited availability as a fully imported model from Japan, contribute to its modest sales performance.
Trailing the Jimny is the large SUV Ford Explorer, with sales of 60 units in November 2024, reflecting a 46% growth rate. Given its high price of VND 2.099 billion and the availability of only a single version, the Explorer’s modest sales performance is understandable.
Rounding off the top 10 is the Toyota Land Cruiser Prado, with sales of 72 units. This makes it the fifth Toyota model in the list. Similar to its larger sibling, the Land Cruiser, the Prado caters to a niche market, and its sales performance is not unexpected.
In December 2024, the government’s policy of supporting a 50% reduction in registration fees came to an end. This may impact the sales performance of the automobile market in Vietnam for the final month of the year. However, manufacturers and dealers are expected to introduce attractive promotional programs to stimulate year-end shopping among Vietnamese consumers.
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