The Mitsubishi Xforce is an instant blockbuster in Vietnam.

According to data by local association VAMA, the Vietnamese new vehicle market drops -9.2% year-on-year in March to 27,289 sales, leading to a year-to-date tally down -17.4% to 58,165. This is a much better result than the -49.5% of last month. When adding Hyundai figures reported separately from VAMA, the monthly tally climbs to 31,831 (-8.8%) and 68,309 YTD (-18.9%).

In the manufacturers ranking, Hyundai (-21.3%) reclaims the top spot it holds year-to-date off Thaco-Kia (-22.9%) for just 200 sales. Toyota (-31.7%) climbs back up three spots on February but suffers year-on-year. Ford (-5.2%) and Mitsubishi (-5.9%) manage to contain their losses but Honda (+90.2%) ignores the negative market at #6. Suzuki (+8.2%) and Isuzu (+1.4%) also impress.

The Mitsubishi Xpander (-30.9%) is back to pole position despite a dreadful drop but still ranks #2 year-to-date. Leader last month, the Ford Ranger (+4%) falls to #2 but retains the YTD leader. The performance of the month is delivered by the new Mitsubishi Xforce landing directly at #3 with 4.2% of the market. The Honda City (+28.1%) and HR-V (+125.2%) both post fantastic gains in the remainder of the Top 10.

Previous month: Vietnam February 2024: Ford Ranger triumphs in imploding market (-52%)

One year ago: Vietnam March 2023: Ford once again defies struggling market (-20.7%)

Full March 2024 Top 16 All brands and Top 70 All models below.

Note: The brands ranking includes medium and heavy commercial vehicles, the models ranking does not.

Vietnam March 2024 – brands:

PosBrandMar-24%/23Feb2024%/23PosFY231Hyundai4,54214.3%– 21.3%210,14414.9%– 31.2%112Thaco-Kia4,34213.6%– 22.9%19,66414.1%– 23.2%233Toyota3,86512.1%– 31.7%67,32110.7%– 46.0%424Ford3,48611.0%– 5.2%37,82111.4%– 9.8%345Mitsubishi3,43910.8%– 5.9%76,0508.9%– 14.5%666Honda2,8328.9%+ 90.2%56,1199.0%+ 40.1%577Mazda2,3507.4%– 12.3%45,6778.3%– 17.1%758Suzuki1,7505.5%+ 8.2%84,0115.9%+ 12.3%899Isuzu8662.7%+ 1.4%91,7002.5%+ 1.2%91010Hino2830.9%– 3.1%124830.7%– 22.3%111211Peugeot2310.7%– 7.6%106220.9%– 12.0%101112Hyundai Trucks1860.6%+ 190.6%143910.6%+ 77.7%121513BMW+Mini1590.5%+ 17.8%113720.5%– 18.4%131314Lexus1080.3%– 43.8%133000.4%– 2.9%141415Samco240.1%– 14.3%151040.2%+ 197.1%151616Daewoo Bus120.0%– 29.4% –120.0%– 47.8%1618

Vietnam March 2024 – models:

PosModelMar-24%/23Feb2024%/23PosFY231Mitsubishi Xpander1,5825.0%– 30.9%23,5085.1%– 21.1%212Ford Ranger1,5394.8%+ 4.0%13,5625.2%– 2.6%143Mitsubishi Xforce1,3344.2%new –1,3342.0%new12 –4Honda City1,0433.3%+ 28.1%32,1653.2%– 11.7%5105Hyundai Accent9673.0%– 28.6%62,2483.3%– 43.0%426Toyota Vios9342.9%– 11.0%221,7572.6%– 20.0%957Mazda CX-59122.9%– 10.7%42,3193.4%– 5.5%338Ford Everest8992.8%– 17.4%72,0353.0%– 18.9%699Honda HR-V7592.4%+ 125.2%81,8422.7%+ 201.5%82810Kia Sonet7512.4%– 25.8%51,8892.8%– 5.8%7611Toyota Yaris Cross7022.2%new301,1551.7%new163412Suzuki XL76772.1%+ 114.2%151,3462.0%+ 75.5%103913Honda CR-V6492.0%+ 185.9%231,0801.6%+ 15.9%181914Ford Territory6021.9%– 22.4%141,2121.8%– 34.7%131315Hyundai Grand i105981.9%– 9.9%101,3412.0%– 40.3%111416Ford Transit5831.8%+ 100.3%211,0091.5%+ 83.5%212617Toyota Veloz5691.8%– 37.7%269681.4%– 59.5%231218Hyundai Creta5491.7%– 47.0%121,2001.8%– 54.7%14719Suzuki Carry5451.7%+ 33.6%191,1901.7%– 4.4%153220Kia Carnival4981.6%– 7.8%91,1051.6%– 8.4%172121Mazda24531.4%+ 2.7%111,0751.6%+ 3.6%192522Toyota Raize3921.2%– 39.3%208361.2%– 50.2%252423Mazda33501.1%– 16.7%139821.4%– 18.6%221524Kia Seltos3401.1%– 54.7%161,0661.6%– 28.0%201125Kia Carens3321.0%+ 16.1%178371.2%+ 9.1%243026Hyundai Tucson2940.9%– 4.2%316200.9%– 15.2%301827Toyota Wigo2880.9%n/a245200.8%n/a354528Hyundai Custin2840.9%new296551.0%new284629Suzuki Carry Pro2840.9%new186200.9%new316730Honda BR-V2720.9%new287271.1%new263531Kia K32720.9%– 22.3%345520.8%– 37.2%333332Hyundai Venue2640.8%new256070.9%new326933Hyundai Santa Fe2580.8%– 49.8%275200.8%– 61.4%341634Toyota Innova Cross2310.7%new552720.4%new486135Mitsubishi Triton2160.7%– 39.2%414350.6%– 25.5%373836Mazda CX-32140.7%+ 18.9%434220.6%– 15.6%384837Toyota Fortuner2110.7%– 44.8%353600.5%– 62.3%423138Mazda CX-82020.6%– 21.7%324820.7%– 21.5%363639Toyota Avanza1960.6%– 47.6%364080.6%– 52.4%392940Mazda CX-301810.6%+ 9.7%382860.4%– 38.5%464741Mitsubishi Attrage1760.6%– 73.7%423930.6%– 70.9%402242Suzuki Ertiga1670.5%+ 234.0%496320.9%+ 371.6%295443Kia Sportage1530.5%– 49.7%403380.5%– 57.9%444244Hyundai Elantra1490.5%– 38.2%393780.6%– 46.3%413745Toyota Camry1310.4%– 58.4%373150.5%– 60.3%454146Hyundai Palisade1090.3%new452410.4%new496347Honda Civic980.3%– 8.4%462740.4%– 24.3%475348Mitsubishi Outlander910.3%– 59.6%541910.3%– 59.6%514049Toyota Corolla Cross800.3%– 94.5%333570.5%– 89.6%43850Kia Morning730.2%– 57.1%481820.3%– 62.0%534951Toyota Innova640.2%– 74.3%477271.1%+ 29.6%274452Ford Explorer630.2%+ 53.7%502030.3%+ 107.1%506553Kia Sorento490.2%– 73.4%531440.2%– 68.6%555054Isuzu D-Max470.1%– 59.8%62760.1%– 67.7%606255Mitsubishi Pajero Sport400.1%– 66.1%601890.3%– 16.7%525856Mazda6380.1%– 63.8%581060.2%– 65.6%585557Suzuki Jimny380.1%new –380.1%new63 –58Toyota Corolla370.1%– 79.6%511220.2%– 74.7%575259Suzuki Swift320.1%– 13.5%521640.2%+ 69.1%546460Kia Soluto320.1%– 68.9%56920.1%– 67.7%595661Kia K5240.1%– 76.0%59740.1%– 68.8%615762Toyota Land Cruiser190.1%– 32.1%57540.1%– 47.6%626063Honda Accord110.0%+ 175.0%61310.0%+ 158.3%657364Toyota Alphard110.0%+ 0.0%64220.0%– 29.0%667065Isuzu MU-X100.0%– 23.1%63350.1%+ 2.9%646666Suzuki Super Carry Pro60.0%– 99.3%65170.0%– 98.7%672067Suzuki Ciaz10.0%– 66.7% –40.0%– 42.9%707468Hyundai Stargazer00.0%– 100.0%441300.2%– 87.9%562769Toyota Yaris00.0%– 100.0%6680.0%– 88.2%687270Mazda BT-5000.0%– 100.0% –50.0%– 98.1%6959

Source: VAMA, Hyundai