Vietnam August. Ford & Mitsubishi booming while the market decelerates

Vietnamese vehicles market

Vietnamese vehicles market in August grew slower than in the previous months, selling 19.271 units (+4.1%). The leader Toyota surged 15.2%, increasing the gap from the followers, with 26.3% of share. Ford boomed at 94.5%, while the Xpander pushed Mitsubishi up a stunning 169.7%.

 

Economic Environment

Vietnamese economy had a bright start to the third quarter, after likely growing faster than any other large ASEAN economy in the second quarter. In July, industrial production was up roughly 10% year-on-year, driven by manufacturing. This chimes with the manufacturing PMI, which edged up in the same month on faster growth in new orders and output, bucking the regional trend.

Moreover, retail sales and visitor arrivals were also encouraging in July, while exports surged despite easing global momentum—a testament to the country’s growing role as a manufacturing hub. However, African swine fever, which has hit pig herd levels, is likely hurting the agricultural sector. Meanwhile, the IMF recently concluded a staff visit.

 

Market Trend

Vietnamese vehicles market has scored an impressive series of all time records ending the 2016 at 286.845 (including HCVs) units more than the double compared with the 2012. However, the local Association of Car Manufacturers, in the 2017 the market scored the first break after years with total vehicles sales at 250.615 units, down 12.6%.

According to data released by VAMA, in 2018 the total vehicles market trend improved. Indeed, having ended the first part of the year with a stable trend, sales sharply increased during the second half, leading registrations to close at 278.352. Moreover, this has been the largest annual volume in history, after the 2016, ending with a year-on-year gain of 11.1%.

The 2019 started positively in January sales at 31.789, soaring to 22%. However, in February sales dropped 9.2% at 11.258.

In March sales soars 73.7% with 31.429 registrations, leading to year-to-date registrations 72.743 and sales up a spectacular 36.5%.

Despite the positive trend in April, the market suffered a significant speed reduction, ending with 20.358 units (+12.45). While sales’ speed increased again in May (+25.9%) with 26.478 units and in June (+25.3%) with 26.207 units sold.

In July, the market kept soaring at 30.8% with 24.393 sales, while in August registrations grew slower (+4.1%) selling 19.271 units, with year-to-date figures at 185.000 units sold.

 

Market Outlook

After a period represented by series of all-time record, the Vietnamese market is seen to keep growing in the 2019-2025 period of time.

Being interested to know more, give a look at this updated research. Clicking on the picture, you can see contents.

 

Competitive Arena

At brand-wise, the year-to-date market leader was Toyota, selling 49.471 vehicles (+44%), with 26.7% of market share, followed by Kia with 28.223 sales (+0.6%) and Mazda with 22.061 (+5.3%).

In fourth place, Honda with 21.126 (+38.8%) , Ford with 20.818 (+69.1%)  , Mitsubishi with 16.386 (+294.6%), Suzuki with 6.482 (+16.5%), Isuzu with 4.530 (+13.6%), Hyundai with 4.236 (-36.6%) and in 10th place Mercedes with 2.868 (-28.7%).

The best-selling model was again the Toyota Vios with 16.787 sales (+4%) followed by the Mitsubishi Xpander with 9.904 and the Honda CR-V with 9.412 (+84.6%).

Rank 2019Rank 2018BrandSales Aug YTD 2019Sales Aug 2019+/- YTD 2019+/- Aug 2019Share YTD Aug 2019Share Aug 2019
11Toyota49.4715.06644,0%15,2%26,7%26,3%
22Kia28.2232.8210,6%0,0%15,3%14,6%
33Mazda22.0612.0085,3%-0,8%11,9%10,4%
44Honda21.1261.86738,8%-12,1%11,4%9,7%
55Ford20.8182.57369,1%94,5%11,3%13,4%
69Mitsubishi16.3862.104294,6%169,7%8,9%10,9%
78Suzuki6.4821.00316,5%-1,5%3,5%5,2%
811Isuzu4.53058913,6%22,7%2,4%3,1%
97Hyundai4.236445-36,6%-53,1%2,3%2,3%
1010Mercedes2.868-28,7%-100,0%1,6%0,0%
1112Peugeot2.443213-13,9%-40,7%1,3%1,1%
1213Nissan1.9661543,7%-18,9%1,1%0,8%
136Chevrolet1.919161-74,7%-85,1%1,0%0,8%
1414Hino1.386208-21,3%29,2%0,7%1,1%
1515Lexus1.07852898,1%246,7%0,6%0,3%
1616Changan77

Rank 2019Somma di Rank 18GroupSales Aug YTD 2019Sales Aug 2019+/- YTD 2019+/- Aug 2019Share YTD Aug 2019Share Aug 2019
11Toyota Group51.9355.32643,4%16,4%28,1%27,6%
22Hyundai-Kia32.4593.266-6,6%-13,3%17,5%16,9%
33Mazda22.0612.0085,3%-0,8%11,9%10,4%
44Honda Motor21.1261.86738,8%-12,1%11,4%9,7%
55Ford Group20.8182.57369,1%94,5%11,3%13,4%
67Renault Nissan Alliance18.3522.258203,4%132,8%9,9%11,7%
78Suzuki6.4821.00316,5%-1,5%3,5%5,2%
810Isuzu Motors4.53058913,6%22,7%2,4%3,1%
99Mercedes Daimler2.868--28,7%-100,0%1,6%0,0%
1011P.S.A.2.443213-13,9%-40,7%1,3%1,1%

Rank 2019Rank 2018ModelSales Aug YTD 2019Sales Aug 2019'+/- YTD 2019'+/- Aug 2019
11Toyota Vios1678719344,0%12,4%
269Mitsubishi Xpander99041326
39Honda CR-V941248284,6%-33,1%
43Mazda3 sedan86669031,6%10,1%
52Toyota Innova7773681-22,9%-36,5%
65Kia Cerato75017810,8%-12,7%
739Toyota Fortuner7281639655,3%-31,0%
84Mazda CX-57233388-9,6%-47,7%
913Ford Ranger70711277118,9%669,3%
106Kia Morning6904704-4,1%-3,7%
118Honda City6283664-5,7%-24,5%
1269Toyota Wigo4982518
1347Ford Everest48445961050,6%1353,7%
147Kia K30004528512-36,1%-8,4%
1510Hyundai Mighty3679410-23,8%-48,6%
1611Ford Transit Minibus3399362-19,6%-35,2%
1714Toyota Camry30452952,4%18,0%
1817Kia K270027723161,3%20,6%
1915Ford Ecosport2714271-7,1%-21,0%
2012Toyota Corolla2590263-32,0%-7,1%
2116Peugeot 2082443213-13,9%-40,7%
2222Mitsubishi Outlander233828542,0%-3,4%
2349Toyota Yaris sedan1970202486,3%94,2%
2429Kia Sedona188320345,4%26,1%
2518Suzuki Carry1859112-9,4%-78,5%
2621Honda Civic sedan18522654,0%6,0%
2752Toyota Hilux165385486,2%2,4%
2840Mitsubishi Triton159923270,5%-5,7%
2920Mazda2 sedan1485104-17,5%2,0%
3043Mitsubishi Attrage145614168,5%-21,2%

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