Vietnam - Automotive Sales volume, 2024
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Flash report, Automotive sales volume, 2024
Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.
Flash report, March 2024
Apr 12, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
Auto sales in Vietnam down 9.2% in March
According to the Vietnam Automobile Manufacturers Association (VAMA) report issued on April 12, automobile sales (including imported vehicles of non-VAMA manufactures' sales) in Vietnam were down 9.2% year-over-year to 27,289 units in March. CKD volume was 14,474 units and CBU volume was 12,815 units. VAMA members (20 manufactures) sales in March were down 8.1% y/y to 24,133 units.
VAMA members passenger car sales were down 13.1%, commercial vehicles were down 1.6% and special purpose vehicles were down 43.7% and hybrid vehicles were 645 unites.
A representative of VAMA also emphasized that sales in March grew strongly compared to February, as March coincided with the Lunar New Year holiday. However, compared to the same period last year, sales were still lower by about 9%.
By brand sales in March based on MarkLines Data Center figures, Toyota (excluding Lexus) was down 31.7%y/y to 3,865 units with a 14.2% market share. Ford was up 0.3% to 3,686 units with a 13.5% market share. Mitsubishi was down 5.9% to 3,439 units with a 12.6% market share. Honda was up 90.2% to 2,832 units with a 10.4% market share. Thaco Kia was down 33.6% to 2,524 units with a 9.2% market share. Thaco Mazda was down 12.3% to 2,350 units with an 8.6% market share. Suzuki was up 8.2% to 1,750 units with a 6.4% market share.
Cumulative sales for the three months of the year were down 17.4%% y/y to 58,165 units.
| Mar. 2024 | Mar. 2023 | Y-o-Y | Jan. -Mar. 2024 | Jan. -Mar. 2023 | Y-o-Y | |
|---|---|---|---|---|---|---|
| Passenger Cars | 17,136 | 19,727 | -13.1% | 36,543 | 46,578 | -21.5% |
| Commercial Vehicles | 6,240 | 6,340 | -1.6% | 12,677 | 13,804 | -8.2% |
| SPV | 112 | 199 | -43.7% | 201 | 418 | -51.9% |
| Hybrid | 645 | - | -% | 1,426 | - | -% |
| VAMA Total | 24,133 | 26,266 | -8.1% | 50,847 | 60,800 | -16.4% |
| Total (Incl. non-VAMA member import) |
27,289 | 30,038 | -9.2% | 58,165 | 70,392 | -17.4% |
* exclude bus chassis
* Hybrid (All segment)
Vietnam - Sales of locally assembled vehicles
| Make | Mar. 2024 | Share | Mar. 2023 | Share | Y-o-Y | Jan. -Mar. 2024 | Share | Jan. -Mar. 2023 | Share | Y-o-Y |
|---|---|---|---|---|---|---|---|---|---|---|
| Toyota | 3,865 | 14.2% | 5,656 | 18.8% | -31.7% | 7,321 | 12.6% | 13,566 | 19.3% | -46.0% |
| Ford | 3,686 | 13.5% | 3,676 | 12.2% | 0.3% | 8,021 | 13.8% | 8,668 | 12.3% | -7.5% |
| Mitsubishi | 3,439 | 12.6% | 3,656 | 12.2% | -5.9% | 6,050 | 10.4% | 7,080 | 10.1% | -14.5% |
| Honda | 2,832 | 10.4% | 1,489 | 5.0% | 90.2% | 6,119 | 10.5% | 4,368 | 6.2% | 40.1% |
| Thaco Kia | 2,524 | 9.2% | 3,800 | 12.7% | -33.6% | 6,279 | 10.8% | 8,600 | 12.2% | -27.0% |
| Thaco Mazda | 2,350 | 8.6% | 2,680 | 8.9% | -12.3% | 5,677 | 9.8% | 6,845 | 9.7% | -17.1% |
| Suzuki | 1,750 | 6.4% | 1,618 | 5.4% | 8.2% | 4,011 | 6.9% | 3,573 | 5.1% | 12.3% |
| Thaco Truck | 1,653 | 6.1% | 1,713 | 5.7% | -3.5% | 2,988 | 5.1% | 3,794 | 5.4% | -21.2% |
| Isuzu* | 866 | 3.2% | 854 | 2.8% | 1.4% | 1,700 | 2.9% | 1,680 | 2.4% | 1.2% |
| Hino* | 283 | 1.0% | 292 | 1.0% | -3.1% | 483 | 0.8% | 622 | 0.9% | -22.3% |
| Peugeot | 231 | 0.8% | 250 | 0.8% | -7.6% | 622 | 1.1% | 707 | 1.0% | -12.0% |
| Bus Thaco | 165 | 0.6% | 117 | 0.4% | 41.0% | 397 | 0.7% | 197 | 0.3% | 101.5% |
| Thaco BMW | 159 | 0.6% | 135 | 0.4% | 17.8% | 372 | 0.6% | 456 | 0.6% | -18.4% |
| Dothanh | 153 | 0.6% | 38 | 0.1% | 302.6% | 295 | 0.5% | 133 | 0.2% | 121.8% |
| Lexus | 108 | 0.4% | 192 | 0.6% | -43.8% | 300 | 0.5% | 309 | 0.4% | -2.9% |
| Vinamotor* | 33 | 0.1% | 26 | 0.1% | 26.9% | 96 | 0.2% | 87 | 0.1% | 10.3% |
| SAMCO | 24 | 0.1% | 28 | 0.1% | -14.3% | 104 | 0.2% | 35 | 0.0% | 197.1% |
| Daewoo Bus | 12 | 0.0% | 17 | 0.1% | -29.4% | 12 | 0.0% | 23 | 0.0% | -47.8% |
| VEAM | - | -% | 29 | 0.1% | -% | - | -% | 57 | 0.1% | -% |
| VAMA Total | 24,133 | 88.4% | 26,266 | 87.4% | -8.1% | 50,847 | 87.4% | 60,800 | 86.4% | -16.4% |
| Total (Incl. non-VAMA member import) |
27,289 | 100.0% | 30,038 | 100.0% | -9.2% | 58,165 | 100.0% | 70,392 | 100.0% | -17.4% |
* exclude bus chassis
Flash report, February 2024
Mar 13, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
According to the Vietnam Automobile Manufacturers Association (VAMA) report issued on March 12, automobile sales (including imported vehicles of non-VAMA manufactures' sales) in Vietnam were down 49.5% year-over-year to 11,633 units in February. CKD volume was 6,662 units and CBU volume was 4,971 units. VAMA members (20 manufactures) sales in February were down 51.2% y/y to 10,017 units.
VAMA members passenger car sales were down 55.3%, commercial vehicles were down 41.5% and special purpose vehicles were down 67.5.and hybrid vehicles were 205 unites.
By brand sales in February based on MarkLines Data Center figures, Ford was down 36.8% y/y to 1,664 units with a 14.3% market share. Thaco Kia was down 49.1% to 1,386 units with a 11.9% market share. Thaco Mazda was down 45.5% to 1,355 units with a 11.6% market share. Honda was down 8.7% to 1,264 units with a 10.9% market share. Toyota (excluding Lexus) was down 74.5% to 1,248 units with a 10.7% market share. Mitsubishi was down 64.1% to 818 units with a 7.0% market share. Thaco Truck was down 53.4% to 731 units with a 6.3% market share.
Cumulative sales for the two months of the year were down 23.5% y/y to 30,876 units.
According to multiple Vietnum media sources, the cause of the above decrease in February was because the car manufacturers' sales period was shortened by about 10 days during the Lunar New Year holiday. At the same time, a series of resonant factors have caused the sales of car manufacturers to decelerate simultaneously, such as the expiration of the Government's 50% registration fee incentive for domestically produced and assembled vehicles in December 2023.
Sales volume by type of VAMA members *
| Feb. 2024 | Feb. 2023 | Y-o-Y | Jan. -Feb. 2024 | Jan. -Feb. 2023 | Y-o-Y | |
|---|---|---|---|---|---|---|
| Passenger Cars | 7,014 | 15,681 | -55.3% | 19,407 | 26,851 | -27.7% |
| Commercial Vehicles | 2,745 | 4,692 | -41.5% | 6,437 | 7,464 | -13.8% |
| SPV | 53 | 163 | -67.5% | 89 | 219 | -59.4% |
| Hybrid | 205 | - | -% | 781 | - | -% |
| VAMA Total | 10,017 | 20,536 | -51.2% | 26,714 | 34,534 | -22.6% |
| Total (Incl. non-VAMA member import) |
11,633 | 23,040 | -49.5% | 30,876 | 40,354 | -23.5% |
* exclude bus chassis
* Hybrid (All segment)
Vietnam - Sales of locally assembled vehicles
| Make | Feb. 2024 | Share | Feb. 2023 | Share | Y-o-Y | Jan. -Feb. 2024 | Share | Jan. -Feb. 2023 | Share | Y-o-Y |
|---|---|---|---|---|---|---|---|---|---|---|
| Ford | 1,664 | 14.3% | 2,632 | 11.4% | -36.8% | 4,335 | 14.0% | 4,992 | 12.4% | -13.2% |
| Thaco Kia | 1,386 | 11.9% | 2,725 | 11.8% | -49.1% | 3,755 | 12.2% | 4,800 | 11.9% | -21.8% |
| Thaco Mazda | 1,355 | 11.6% | 2,486 | 10.8% | -45.5% | 3,327 | 10.8% | 4,165 | 10.3% | -20.1% |
| Honda | 1,264 | 10.9% | 1,385 | 6.0% | -8.7% | 3,287 | 10.6% | 2,879 | 7.1% | 14.2% |
| Toyota | 1,248 | 10.7% | 4,887 | 21.2% | -74.5% | 3,456 | 11.2% | 7,910 | 19.6% | -56.3% |
| Mitsubishi | 818 | 7.0% | 2,279 | 9.9% | -64.1% | 2,611 | 8.5% | 3,424 | 8.5% | -23.7% |
| Thaco Truck | 731 | 6.3% | 1,570 | 6.8% | -53.4% | 1,335 | 4.3% | 2,081 | 5.2% | -35.8% |
| Suzuki | 667 | 5.7% | 1,100 | 4.8% | -39.4% | 2,261 | 7.3% | 1,955 | 4.8% | 15.7% |
| Isuzu* | 352 | 3.0% | 633 | 2.7% | -44.4% | 834 | 2.7% | 826 | 2.0% | 1.0% |
| Peugeot | 167 | 1.4% | 237 | 1.0% | -29.5% | 391 | 1.3% | 457 | 1.1% | -14.4% |
| Thaco BMW | 89 | 0.8% | 129 | 0.6% | -31.0% | 213 | 0.7% | 321 | 0.8% | -33.6% |
| Bus Thaco | 82 | 0.7% | 61 | 0.3% | 34.4% | 232 | 0.8% | 80 | 0.2% | 190.0% |
| Hino* | 67 | 0.6% | 218 | 0.9% | -69.3% | 200 | 0.6% | 330 | 0.8% | -39.4% |
| Lexus | 56 | 0.5% | 106 | 0.5% | -47.2% | 192 | 0.6% | 117 | 0.3% | 64.1% |
| Vinamotor* | 36 | 0.3% | 32 | 0.1% | 12.5% | 63 | 0.2% | 61 | 0.2% | 3.3% |
| Dothanh | 19 | 0.2% | 25 | 0.1% | -24.0% | 142 | 0.5% | 95 | 0.2% | 49.5% |
| SAMCO | 16 | 0.1% | 4 | 0.0% | 300.0% | 80 | 0.3% | 7 | 0.0% | 1,042.9% |
| VEAM | - | -% | 22 | 0.1% | -% | - | -% | 28 | 0.1% | -% |
| Daewoo Bus | - | -% | 5 | 0.0% | -% | - | -% | 6 | 0.0% | -% |
| VAMA Total | 10,017 | 86.1% | 20,536 | 89.1% | -51.2% | 26,714 | 86.5% | 34,534 | 85.6% | -22.6% |
| Total (Incl. non-VAMA member import) |
11,633 | 100.0% | 23,040 | 100.0% | -49.5% | 30,876 | 100.0% | 40,354 | 100.0% | -23.5% |
* exclude bus chassis
Flash report, January 2024
Feb 27, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
Auto sales in Vietnam up 11.1% in January
According to the Vietnam Automobile Manufacturers Association (VAMA) report issued on February 22, automobile sales (including imported vehicles of non-VAMA manufactures' sales) in Vietnam were up 11.1% year-over-year to 19,243 units in January. CKD volume was 9,783 units and CBU volume was 9,460 units. VAMA members (20 manufactures) sales in January were up 19.3% y/y to 16,697 units.
VAMA members passenger car sales were up 10.9% to 12,393 unites, commercial vehicles were up 33.2% to 3,692 unites, special purpose vehicles were down 35.7% to 36 units and hybrid vehicles were 576 unites.
By brand sales in January based on MarkLines Data Center figures, Ford was up 13.2% y/y to 2,671 units with a 13.9% market share. Thaco Kia was up 14.2% to 2,369 units with a 12.3% market share. Toyota (excluding Lexus) was down 27.0% to 2,208 units with a 11.5% market share. Honda was up 35.4% to 2,023 units with a 10.5% market share. Thaco Mazda was up 17.5% to 1,972 units with a 10.2% market share. Mitsubishi was up 56.6% to 1,793 units with a 9.3% market share. Suzuki was up 86.4% to 1,594 units with a 8.3% market share.
VAMA just announced that the total car sales in the entire market of member units in January 2024 only reached 19,243 cars, up 50.3% compared to with last month.
According to some sales experts at car dealerships in Hanoi, the cause of the sharp decline in sales comes from two factors.
First, January is the month close to the Lunar New Year, consumers' cash flow is oriented toward holiday needs rather than focusing on buying cars. Second, December 2023 is the last time to apply the 50% registration fee reduction.
Sales volume by type of VAMA members *
| Jan. 2024 | Jan. 2023 | Y-o-Y | |
|---|---|---|---|
| Passenger Cars | 12,393 | 11,170 |
10.9%
|
| Commercial Vehicles | 3,692 | 2,772 |
33.2%
|
| SPV | 36 | 56 |
-35.7%
|
| Hybrid | 576 | - |
-%
|
| VAMA Total | 16,697 | 13,998 |
19.3%
|
| Total (Incl. non-VAMA member import) |
19,243 | 17,314 |
11.1%
|
Source: VAMA(Vietnam Automobile Manufacturers' Association)
* exclude bus chassis
* Hybrid (All segment)
Vietnam - Sales of locally assembled vehicles
| Make | Jan. 2024 | Share | Jan. 2023 | Share | Y-o-Y |
|---|---|---|---|---|---|
| Ford |
2,671
|
13.9%
|
2,360
|
13.6%
|
13.2%
|
| Thaco Kia |
2,369
|
12.3%
|
2,075
|
12.0%
|
14.2%
|
| Toyota |
2,208
|
11.5%
|
3,023
|
17.5%
|
-27.0%
|
| Honda |
2,023
|
10.5%
|
1,494
|
8.6%
|
35.4%
|
| Thaco Mazda |
1,972
|
10.2%
|
1,679
|
9.7%
|
17.5%
|
| Mitsubishi |
1,793
|
9.3%
|
1,145
|
6.6%
|
56.6%
|
| Suzuki |
1,594
|
8.3%
|
855
|
4.9%
|
86.4%
|
| Thaco Truck |
604
|
3.1%
|
511
|
3.0%
|
18.2%
|
| Isuzu* |
482
|
2.5%
|
193
|
1.1%
|
149.7%
|
| Peugeot |
224
|
1.2%
|
220
|
1.3%
|
1.8%
|
| Bus Thaco |
150
|
0.8%
|
19
|
0.1%
|
689.5%
|
| Lexus |
136
|
0.7%
|
11
|
0.1%
|
1,136.4%
|
| Hino* |
133
|
0.7%
|
112
|
0.6%
|
18.8%
|
| Thaco BMW |
124
|
0.6%
|
192
|
1.1%
|
-35.4%
|
| Dothanh |
123
|
0.6%
|
70
|
0.4%
|
75.7%
|
| SAMCO |
64
|
0.3%
|
3
|
0.0%
|
2,033.3%
|
| Vinamotor* |
27
|
0.1%
|
29
|
0.2%
|
-6.9%
|
| VEAM |
-
|
-%
|
6
|
0.0%
|
-%
|
| Daewoo Bus |
-
|
-%
|
1
|
0.0%
|
-%
|
| VAMA Total |
16,697
|
86.8%
|
13,998
|
80.8%
|
19.3%
|
| Total (Incl. non-VAMA member import) |
19,243
|
100.0%
|
17,314
|
100.0%
|
11.1%
|
Source: VAMA(Vietnam Automobile Manufacturers' Association)
* exclude bus chassis