The Most ‘Boring’ Segments of the Vietnamese Auto Market

The Vietnamese auto market experienced a year of ups and downs, with total market sales hitting rock bottom in February, peaking in the month with promotional registration fees, and then plummeting in the last month of the year.

However, some segments in Vietnam remained rather stagnant, with familiar names continuing to dominate.

Small MPV – Mitsubishi Xpander Remains the Top Seller

In 2023, the Mitsubishi Xpander became the best-selling model in the small MPV segment with 19,740 units sold to Vietnamese customers, also making it the top-selling automobile in the market.

A year later, Mitsubishi’s MPV continued to lead the segment despite a slight dip in sales to 19,498 units. This performance was enough to secure a position for the Mitsubishi Xpander among the top-selling automobiles in the Vietnamese market.

Mitsubishi Xpander dominates the affordable MPV segment. Photo: Vĩnh Phúc.

Closely following the Mitsubishi Xpander is the Toyota Veloz Cross, with 8,341 units sold to Vietnamese customers in the 12 months of 2024.

The Toyota Veloz Cross was expected to compete head-to-head with the Mitsubishi Xpander after it transitioned to domestic assembly, but the outstanding sales performance of its compatriot rival has left the Veloz Cross lagging in the sales race.

Mitsubishi Xpander alone accounted for nearly 41.8% of the total sales in the small MPV segment in Vietnam.

The remaining representatives of this segment in Vietnam, including the Toyota Veloz Cross, Kia Carens, Hyundai Stargazer, Honda BR-V, Toyota Avanza Premio, Suzuki XL7/XL7 Hybrid, and Suzuki Ertiga Hybrid (discontinued), collectively sold 27,169 units in 2024.

Pickup Trucks Remain Ford Ranger’s Territory

Once again, the Ford Ranger proved too formidable for its competitors in the same segment. 2024 witnessed 17,508 Ford Rangers sold to Vietnamese customers, outperforming the sales of 16,085 units recorded a year earlier.

The sales of over 17,500 Ford Rangers in the past 12 months accounted for more than 75.5% of the total sales in the mid-size pickup truck segment.

The Ford Ranger’s Japanese rivals, including the Mitsubishi Triton (2,687 units), Toyota Hilux (2,404 units), and Isuzu D-Max (559 units), have yet to pose a significant challenge.

Moreover, the Mazda BT-50 has discontinued sales after recording zero sales for several consecutive months. This pickup truck from Mazda accumulated a total of 5 units sold in Vietnam in 2024, all recorded in the first month of the year.

In the face of the Ford Ranger’s dominance, Mitsubishi Triton, Toyota Hilux, and Isuzu D-Max have all introduced updates or launched new generations in 2024. It is likely that the new generation of the Mazda BT-50 will also be introduced soon to Vietnamese customers after its recent launch in Thailand.

Hyundai Grand i10 Leads the Pack in the A-Segment

Following the discontinuation of the VinFast Fadil, the Hyundai Grand i10 has become the predominant player in the A-segment car market in Vietnam.

At the end of 2024, this South Korean A-segment model recorded sales of 5,831 units, continuing its reign in the segment. Cumulative sales of the Toyota Wigo reached 2,659 units after 12 months, while the Kia Morning sold 771 units during the same period.

Hyundai Grand i10 continues to lead the low-slung A-segment.

In the coming year, the Hyundai Grand i10 is expected to maintain its position as the best-selling model in the low-slung A-segment. This model was recently upgraded in Vietnam in June 2024, offering two variants and a total of six versions, with prices ranging from 360 to 455 million VND.

The Toyota Wigo returned to Vietnam in June 2023 with two versions, but the E version equipped with a manual transmission, priced at 360 million VND, has been discontinued. Customers now have the option of the G version of the Toyota Wigo, priced at 405 million VND.

The manual transmission version of the Toyota Wigo has been discontinued. Photo: Bối Hạ.

Kia Morning has not introduced any new upgrades since 2020. This A-segment model is currently available in Vietnam with four versions, with prices starting at 349 million VND for the MT version and going up to 424 million VND for the X-Line and GT-Line versions.

Mazda CX-5 Outperforms Competitors in the C-SUV Segment

At the end of 2024, the Mazda CX-5 remained the best-selling C-SUV in Vietnam, successfully defending its title from the previous year.

The cumulative sales of the Mazda CX-5 after 12 months of the last year stood at 14,781 units, nearly double the performance of the Ford Territory (8,125 units) and significantly outperforming the Honda CR-V (6,688 units) and the Hyundai Tucson (6,641 units).

Out of the total sales of 40,652 units in the C-SUV segment in Vietnam, the Mazda CX-5 alone contributed more than 36.3%.

The Ford Territory has yet to surpass the Mazda CX-5 in the C-SUV segment. Photo: Thaco, Ford.

The strong sales performance of the Mazda CX-5 was particularly evident during the three months of promotional registration fees. This locally assembled C-SUV was the best-selling assembled car in Vietnam during the period from September to November, when assembled cars benefited from a 50% registration fee.

In the coming year, the Mazda CX-5 and other C-SUV models will face new competitors, including the BYD Sealion 6 and Jaecoo J7, both Chinese vehicles equipped with plug-in hybrid (PHEV) powertrains.

Ford Everest Dominates the D-SUV Segment

Ford Everest also enjoyed another successful year, outperforming its South Korean and Japanese rivals in the Vietnamese market.

This Ford SUV “crowned” the D-SUV segment with sales of 10,841 units, far surpassing the Hyundai Santa Fe (6,941 units), Toyota Fortuner (3,511 units), and Mazda CX-8 (2,693 units).

The seven D-SUV models with regular sales reports in Vietnam sold a combined total of 26,042 units in 2024. Ford Everest alone contributed more than 41.6% of this figure.

Ford Everest continues to dominate the D-SUV segment. Photo: Ford.

The Ford Everest has consistently been the top-selling model in the segment across reporting periods. At certain times, the Hyundai Santa Fe came close to overtaking the Ford Everest following the launch of its new generation, but the imported Thai SUV ultimately maintained its lead to end 2024 as the segment leader.

The sales performance of nearly 11,000 units also secured a position for the Ford Everest among the top 10 best-selling automobiles in Vietnam. In the previous year, the Ford Everest also made it to this list with sales of 9,960 units.

Toyota Camry’s Sales Equal to All Competitors Combined

In Vietnam, the D-segment sedan market is considered lacking in both representation and sales volume. The total sales of all four D-segment sedans present in the market failed to surpass the 1,500-unit mark in 2024.

Nonetheless, the Toyota Camry continued to demonstrate its dominance over its competitors in the segment, becoming the best-selling D-segment sedan in Vietnam with sales of 1,333 units.

Toyota Camry’s rivals in Vietnam currently include the Mazda6 (612 units in 12 months), Kia K5 (301 units), and Honda Accord (91 units).

Thus, the combined sales of the Mazda6, Kia K5, and Honda Accord in 2024 totaled 1,004 units, which is less than the sales of the Toyota Camry alone during the same period in Vietnam.

Toyota Camry has just launched its new generation, including three versions, two of which are equipped with hybrid engines. In 2024, the D-segment sedan group also welcomed a new all-electric entrant, the BYD Seal, offering two versions priced at 1.119 billion VND and 1.359 billion VND, respectively.

Another Chinese electric sedan, the GAC Aion ES, with dimensions close to those of D-segment vehicles, is currently priced at 788 million VND.

You may also like

Small Cars, Big Impact: How Electric Vehicles are Revving Up the Auto Industry

The A-segment cars are facing a challenging market, with a shrinking share as small electric vehicles are gaining traction in Vietnam.

The All-New Mazda CX-5 Unveiled: Longer and Now with a Hybrid Option

The next-generation C-segment SUV is set to debut around mid-year. With its sleek design and innovative features, it promises to be a game-changer in the automotive industry. Offering unparalleled performance, cutting-edge technology, and a spacious, comfortable interior, this SUV is poised to become the new benchmark in its class. Stay tuned for more updates on this exciting new model!

Top-Selling Pickup Trucks in January 2025: Ford Ranger Dominates Gas and Diesel Segments in Vietnam

The Ford Ranger is a formidable contender in the automotive market, trailing behind only the electric VinFast VF 3 and VF 5 in sales across all models.

The New Toyota Wigo: Shifting Gears to Automatic

Toyota has discontinued the manual transmission option for its A-segment hatchback in Vietnam. Dealerships confirmed that they have not been importing the manual Toyota Wigo E variant for quite some time now.

The Ultimate Guide to January 2025’s Class A Car Sales: A Segment in Decline, with No Model Hitting the 300-Unit Mark

The A-segment model that saw the biggest drop in sales in January 2025 was the “segment king” Hyundai Grand i10.