The Only Japanese Auto Segment That Doesn’t Win in Vietnam

In the Vietnamese market, Japanese cars may lead in some segments, or at least create a competitive duopoly or tripartite competition with Korean and American cars in certain segments. However, in the pickup truck segment, all Japanese cars are no match for the Ford Ranger.

Wrapping up the first half of this year, the Ford Ranger continues to assert its number one position in the segment, maintaining its title as the “king of pickup trucks,” a status this American model has held for many consecutive years.

Ranger outsells all competitors combined

After two consecutive periods of declining sales, the Ford Ranger’s sales volume grew again in June, reaching 1,403 units. As a result, the total sales volume of the only American pickup truck in the mainstream segment reached 7,785 units, equivalent to an average of nearly 1,300 units per month.

The Ranger’s Japanese competitors, including the Mitsubishi Triton and Toyota Hilux, also experienced sales growth in the second quarter. The sole exception was the Isuzu D-Max, which lost more than half of its sales volume in June, selling only 31 units.

In the first six months, Mitsubishi sold 1,816 Triton trucks to Vietnamese customers. Toyota sold 1,473 Hilux trucks, while Isuzu sold 255 D-Max trucks.

Thus, the total sales volume of all Japanese pickup trucks in Vietnam in the first half of this year reached 3,544 units. This volume is less than half of the cumulative sales of 7,785 units achieved by the Ford Ranger alone during the same period.

The Ford Ranger concluded the first six months of last year with sales of 7,743 units and successfully maintained its title as the “king of pickup trucks” with 17,508 units sold in Vietnam throughout 2024. With its current sales performance, the Ford Ranger is highly likely to remain the best-selling pickup truck among Vietnamese customers this year.

On the other hand, despite launching new generations or introducing upgraded versions, competitors like the Mitsubishi Triton, Toyota Hilux, and Isuzu D-Max have been unable to surpass the Ranger. Another Japanese pickup, the Nissan Navara, received an upgrade last year but has yet to make any significant impact.

Will Japanese Trucks be Overwhelmed by the Wave of New American Rivals?

Recent news about the potential reduction of import tariffs on cars from the US to 0% has opened up the possibility of introducing more American pickup trucks to the Vietnamese market.

Among them, the Ford F-Series pickup trucks have attracted much attention from Vietnamese customers. In the US, the Ford F-Series has maintained its position as the best-selling pickup truck since 1977.

Chevrolet pickup trucks also stand a chance to re-enter the Vietnamese market if the import tariff exemption policy is implemented. This policy could also reduce the prices of Jeep and Ram pickup trucks, which are currently officially distributed in Vietnam by JVA.

The zero-tariff policy on US car imports could also bring the Honda Ridgeline pickup truck to the Vietnamese market. Another Japanese pickup, the Mazda BT-50, is expected to return to Vietnam soon, albeit in an upgraded version. At present, the Mazda BT-50 has temporarily withdrawn from the Vietnamese market due to consistently low sales volumes.

Fundamentally, the prospect of a wave of American pickup trucks entering the Vietnamese market is not overly positive for Japanese pickup trucks.

At present, the Ford Ranger, the sole American pickup truck in the market, already exerts significant pressure on all Japanese pickup trucks, including the Mitsubishi Triton, Toyota Hilux, and Isuzu D-Max.

If Vietnamese customers gain access to the Ford F-150 or Chevrolet Colorado, or if the Ram 1500 becomes more affordable due to the exemption of import tariffs on US vehicles, it is likely that these American models, along with the Ford Ranger, will continue to outsell their Japanese counterparts.

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