Ford Ranger takes first place in Vietnam in February.
VAMA data shows the Vietnamese market fell -49.5% year-on-year to just 11,633 sales and fell -23.5% to 30,876 sales. If you add Hyundai, which reports separately from VAMA, these numbers rise to 13,666 (-52%) and 36,478 (-26%). According to VAMA, the dire market performance is partly due to the Lunar New Year holidays being held in February this year compared to January 2023, as well as the expiration of the 50% reduction in registration fees on January 1 and broader economic concerns.
Thaco-Kia (-49.5%) leads the brand rankings with a 16.1% share, ahead of Hyundai (-62.8%), while Ford (-36.8%) is somewhat reluctant to remain third . Mazda (-45.5%) moved up two places in January to fourth place, Honda (-8.7%) remains in fifth place with an excellent hold, while Toyota (-74.5%) free-falls to an unusual 6 -th place. In the rest of the top 10, Peugeot (-29.5%), Suzuki (-39.4%) and Isuzu (-44.4%) are ahead of the market.
In the model segment, the Ford Ranger (-27.8%) takes the win with a 6.4% share, delivering its first monthly gain since October 2022. It also now ranks first year-to-date, up from fourth for all of 2023. Mitsubishi Xpander (-55.6%) dropped to second place, and Honda City (-27.1%) moved up 8 positions to third place in January. Meanwhile, the Mazda CX-5 (-41%) remains in fourth place behind the Kia Sonet (-29%) and Hyundai Accent (-76.7%). Honda HR-V (+271.1%) is going against the grain with a sensational year-over-year gain.
Previous month: Vietnam January 2024: Mitsubishi Xpander and Ford Ranger market grew by 9.6%.
One year ago: Vietnam February 2023: Hyundai and Accent maintain market leadership with 5.7% growth.
Full February 2024 Top 15 of all brands and Top 66 of all models below.
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