2021 was a difficult year for car manufacturers in Vietnam. The total sales of the market reached over 410,000 cars.
According to the Vietnam Automobile Manufacturers Association (VAMA), its members sold a total of 304,149 vehicles, up 3% compared to 2020.
Despite the strong demand stimulus thanks to the policy of 50% reduction in registration fees at the end of 2021, the sales of domestically assembled cars still decreased by 10% with 168,357 vehicles, while imported cars reached 135,792 units, up 24% year on year.
Toyota, Thaco, and Hyundai were the top three businesses for car sales in 2021. Thaco assembles and distributes three passenger car brands, namely Kia, Mazda and Peugeot. This firm accounted for the highest sale output among VAMA members. However, in terms of brands alone, the race between Toyota and Hyundai was more intense, as they closely followed Thaco.
Hyundai (distributed by TC Motor) sold a total of 70,518 vehicles, including commercially-used cars, in 2021. Although its sales decreased by 13.3% compared to 2020, Hyundai was still the brand that sold the most cars in the Vietnamese market. Most of Hyundai’s models had good sales. The Korean automaker had many products on the list of 10 best-selling cars in 2021 such as Hyundai Accent, Hyundai Santa Fe or Hyundai Grand i10. Accent surpassed Toyota Vios to become the best-selling car model in Vietnam with a total of 19,956 vehicles.
In 2021, Toyota Vietnam sold a total of 69,002 vehicles, including 30,330 locally manufactured and assembled vehicles. Toyota was in second place, but it sold the highest number of passenger cars in the Vietnamese market. However, many of Toyota’s models that used to be at the top were in fierce competition by other brands.
Thaco sold a total of 104,257 vehicles in 2021. The Korean brand Kia ranked 3rd on the list of best-selling brands with 45,523 cars sold. Kia sales increased by 6,352 vehicles compared to 2020. The best-selling models of this brand was Kia Seltos with cumulative sales of 16,122 vehicles.
In addition to Kia, Mazda was also a best-selling brand in 2021 with 27,286 units sold, down 4,938 units compared to 2020. Mazda’s best-selling model in 2021 was the CX-5 with 10,230 sales.
As one of the few brands with positive growth in 2021, VinFast sold a total of 35,723 vehicles, up 21.2% compared to 2020. VinFast Fadil occupied the top position in the A-segment with 24,128 vehicles in total. In addition, VinFast also sold 6,330 Lux A2.0 cars, 5,180 Lux SA2.0 cars. VinFast delivered its first electric car models to customers in late 2021.
Ford sold a total of 23,708 vehicles, mainly SUVs, last year, down 4% from 2020. The Ford Ranger series was still the best-selling model of Ford Vietnam with 15,650 vehicles sold, accounting for nearly 60% of market share of the pickup truck segment, an increase of 18% over 2020.
A number of electric car manufacturers in Vietnam plan to launch electric vehicle models accompanied by preferential policies for users this year. Experts predict that 2022 will see a boom in the Vietnamese electric car market.
The Vietnamese automotive market is expected to rebound this year, returning to its growth track after sluggish sales in 2021, according to industry insiders.