After a slight recovery in June, Vietnam's automobile market stagnated in July. Sales for most brands plateaued or declined slightly, leading to stagnant overall industry growth.

Combined sales from members of the Vietnam Automobile Manufacturers' Association (VAMA), importers, Hyundai, and VinFast reached 46,819 vehicles in July, a slight decrease of nearly 2% compared to the previous month.

Since VinFast did not disclose its sales figures for July 2024, it is impossible to assess its growth. Total sales for VAMA members, importers, and Hyundai reached 222,567 vehicles after seven months, a 15% increase compared to the same period in 2024. Including VinFast, the entire market consumed 301,112 vehicles.

VinFast maintained the largest market share, while Toyota remained the best-selling internal combustion engine vehicle brand. However, the most notable surge came from Ford.

Ford's sales through the end of July reached 22,293 vehicles, marking a 20% increase compared to the same period in 2024. Conversely, Hyundai's sales declined by 13%, reaching just under 21,000 vehicles.

Ford is experiencing some of its best sales years in Vietnam. The brand's sales figures in Vietnam lead the Southeast Asian region. Models like the Ranger, Everest, Territory, and Transit are among the best-selling in their respective segments.

Declining demand for the Santa Fe and Creta, along with the diminishing contributions of the i10 and Accent, have led to a downturn in Hyundai's sales. This trend is also evident with Kia, which is distributed by Truong Hai.

Previously dominant models such as the Seltos, Sonet, Morning, and K3 have lost ground, contributing to Kia's declining sales for two consecutive years. The declining trend of Korean cars is becoming increasingly apparent in Vietnam.

The 2025 Territory model at the launch event in Hanoi on 15/8. Photo: Luong Dung

The 2025 Territory model at the launch event in Hanoi on 15/8. Photo: Luong Dung

Japanese brands like Mitsubishi, Honda, and Mazda occupy the middle of the sales rankings. Their sales rely on a few key products. For example, Mitsubishi's sales depend on the "X" factor: the Xforce and Xpander. Mazda has its golden goose, the CX-5. Honda relies on the popularity of the City and CR-V.

Suzuki, Peugeot, and Isuzu are among the lowest-selling brands. Peugeot, distributed by Thaco, positions the French brand in the near-luxury segment, pricing most of its products out of reach for the majority of consumers. Meanwhile, Suzuki and Isuzu continue to rely on the commercial vehicle segment rather than passenger cars.

Vietnam's automobile market hosts many other brands, particularly a large number from China, such as BYD, MG, Geely, and Omoda. However, these brands do not disclose their sales figures.

Thanh Nhan