A ‘Rosy’ Month for Pickup Trucks

The pickup truck segment in Vietnam witnessed a positive growth spurt, with all major players reporting increased sales figures. Mitsubishi Triton more than doubled its sales, but it still couldn’t dethrone the reigning champion, Ford Ranger.

Despite Doubling Sales, Triton Trails Behind Ranger

According to the Vietnam Automobile Manufacturers’ Association (VAMA), the pickup truck segment sold a total of 2,341 units in March, a significant improvement from the 1,530 units sold in February.

All the major players in the segment, including Ford Ranger, Mitsubishi Triton, Toyota Hilux, and Isuzu D-Max, experienced growth in their sales figures. Mitsubishi Triton stood out with more than double the sales, increasing from 216 units in February to 538 units in March.

However, Ford Ranger maintained its position as the top-selling pickup truck in Vietnam, with sales of 1,536 units. Its sales figures alone nearly doubled those of its Japanese competitors combined.

Toyota Hilux sold 233 units in March, while Isuzu D-Max sold 34 units.

At the end of the first quarter, Ford Ranger continued its dominance with a total of 3,762 units sold. Mitsubishi Triton sold 1,000 units, while Toyota Hilux and Isuzu D-Max trailed behind with 578 and 115 units sold, respectively.

Awaiting New Competitors

The pickup truck segment in Vietnam has been lacking excitement, with Ford Ranger consistently leading the pack. The sales gap between Ford Ranger and its competitors remains significant. Even the second-best-selling pickup, Mitsubishi Triton, trails by a thousand units.

One of the reasons for Ford Ranger’s dominance is attributed to its diverse range of models and price points. With a total of seven standard versions and the Raptor variant, priced between VND 665 million and VND 1.299 billion, Ford Ranger offers a wide array of options to cater to diverse customer needs.

Ford Ranger offers a diverse range of models and price points, solidifying its position as the top-selling pickup truck in Vietnam. Image: Ha Bối.

Its competitors, on the other hand, have either introduced upgraded versions or launched new generations of their models. Mitsubishi Triton, in its sixth generation, offers three variants priced between VND 655 million and VND 924 million. However, the removal of the manual transmission option in the new generation may impact its sales in Vietnam.

Toyota Hilux also introduced an upgraded version last year, with three variants priced from VND 668 million to VND 999 million. The all-new Isuzu D-Max 2024, unveiled at the VMS 2024, offers five variants with prices ranging from VND 650 million to VND 880 million.

Mitsubishi Triton and Isuzu D-Max strive to refresh their models. Image: Hậu Phúc.

Ford Ranger’s dominance has also led to the temporary withdrawal of the Mazda BT-50 from the market. The segment includes the Nissan Navara, with four variants starting at VND 685 million, but the company does not disclose its sales figures.

Looking ahead, the BYD Shark 6 may enter the Vietnamese market, following its recent launch in Thailand at the BIMS 2025. If the BYD Sealion 6 is well-received in Vietnam, the BYD Shark 6 could be the next model to join BYD’s lineup, offering a fresh alternative to challenge Ford Ranger’s reign.

Additionally, the potential reduction of import tariffs on vehicles from the US to 0% could pave the way for a range of large American pickup trucks to enter the Vietnamese market. Models such as the Ford F-Series, Ram pickups, GMC Sierra, and Chevrolet Silverado may become more accessible to Vietnamese consumers once the tariff barriers are removed.

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