As reported, the Vietnamese automobile market experienced significant growth in September 2024 compared to the previous month. This growth was propelled by two main factors: the end of the seventh lunar month, which is traditionally considered inauspicious for purchases, and the government’s supportive policy of a 50% reduction in registration fees for domestically produced and assembled vehicles, effective from September 1st, 2024.
According to the Vietnam Automobile Manufacturers’ Association (VAMA), the total market sales in September 2024 reached 36,585 units, a remarkable 45.2% increase. This figure includes 28,973 passenger cars, 7,367 commercial vehicles, and 245 specialized vehicles. When including the sales figures from Hyundai Thanh Cong, one of the prominent automotive manufacturers in Vietnam, the total sales volume rises to 43,103 units.
September witnessed a substantial surge in sales for numerous car models in Vietnam, with the following ten models achieving the highest sales figures:
| Rank | Model | September 2024 Sales | August 2024 Sales | Growth Rate | Year-to-Date Sales 2024 |
| 1 | Mitsubishi Xpander | 2,688 | 1,003 | +7.3% | 12,956 |
| 2 | Mazda CX-5 | 1,856 | 1,070 | +73.4% | 9,240 |
| 3 | Toyota Vios | 1,842 | 1,010 | +82.3% | 8,812 |
| 4 | Mitsubishi Xforce | 1,821 | 2,504 | -27.2% | 9,963 |
| 5 | Honda City | 1,590 | 421 | +277.6% | 6,071 |
| 6 | Ford Ranger | 1,473 | 1,274 | +15.6% | 11,766 |
| 7 | Hyundai Accent | 1,290 | 937 | +37.7% | 8,200 |
| 8 | Toyota Veloz Cross | 1,147 | 538 | +113.1% | 5,218 |
| 9 | Hyundai Creta | 1,068 | 613 | +74.2% | 5,181 |
| 10 | Kia Carnival | 1,023 | 280 | +265.3% | 4,276 |
Top 10 Best-Selling Cars in Vietnam, September 2024 (in units)
Mitsubishi Xpander topped the charts as the best-selling model in the Vietnamese market for September 2024, with 2,688 units sold, reflecting a 7.3% growth. This model reclaimed its top position from its sibling, the Mitsubishi Xforce.
Interestingly, the second best-selling model was not the usual contenders, Mitsubishi Xforce or Ford Ranger, but the Mazda CX-5. This compact SUV recorded impressive sales of 1,856 units, marking a substantial 73.4% growth. With these outstanding results, the Mazda CX-5 once again solidified its dominance in the compact SUV segment and among all high-riding vehicles in Vietnam.
Ranked third was the Toyota Vios, a subcompact sedan often dubbed the “people’s car.” Vietnamese consumers purchased 1,842 Vios units in September, representing an 82.3% increase. This performance secured its leadership in the subcompact sedan segment and allowed it to surpass its rival, the Hyundai Accent.
In contrast to August 2024, the Mitsubishi Xforce witnessed a decline in September, dropping to fourth place in the overall market with a 27.2% decrease in sales, totaling 1,821 units. However, within the compact SUV segment, the Mitsubishi Xforce remained the undisputed sales leader.
Honda City ranked fifth, with 1,590 units sold, an astonishing 277.6% growth. This achievement not only propelled the Honda model into the top 10 but also enabled it to surpass its competitor, the Hyundai Accent. The impressive performance can be attributed to Honda’s strategic decision to adjust the City’s price, reducing the listed price range from VND 499-569 million to VND 40-60 million starting September 1, 2024.
Honda City makes a comeback in the top 10 best-selling cars, outperforming the Hyundai Accent.
Ford Ranger secured the sixth position, selling 1,473 units, a 15.6% increase. It remains the top choice in the pickup truck segment and a significant revenue generator for the Ford brand in Vietnam.
Hyundai Accent ranked seventh in the overall market, with 1,290 units sold, translating to a 37.7% growth. Despite the positive growth, the Hyundai model lagged behind its rivals, the Toyota Vios and Honda City, in the subcompact sedan segment.
Toyota Veloz Cross, a small MPV, was the eighth best-selling model. It achieved sales of 1,147 units, a remarkable 113.1% growth. This success can be partly attributed to the 100% registration fee waiver offered for the Veloz Cross during September 2024, making it a more appealing option for buyers.
Hyundai Creta ranked ninth, with sales increasing by 74.2% to 1,068 units. Within the compact SUV segment, the Creta maintained its second-best position, following the Mitsubishi Xforce.
Rounding out the top 10 was the Kia Carnival, with an impressive 265.3% sales growth, totaling 1,023 units. This achievement is notable considering the Kia Carnival’s premium price point. The introduction of an upgraded version on September 16, 2024, likely contributed to this exceptional performance.
The Vietnamese automobile market is expected to remain vibrant in October 2024, as we enter the year-end shopping season. Additionally, the government’s policy of reducing registration fees by 50% for select models remains in effect, coupled with attractive incentives offered by both manufacturers and dealerships.
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