Vietnam Vehicles Market in 2015 hit the new record doubling volumes in only three years. Behind the leadership of Toyota, several brands performed really fast with Mazda better than all others. The top model is Korean.
Vietnam was one of the few bright spots in Asia last year the economy closed 2015 with a robust 6.7% growth thanks to a strong rise in industrial production. The reading marked an acceleration from the 6.0% tallied in 2014 and was the best result since 2007.
The increase also overshot the government’s expectations of 6.2% growth. In hopes of carrying the positive momentum forward, the Communist Party of Vietnam opened the eight-day-long National Congress on 20 January, in which the party will choose the political leadership and define the economic roadmap of the country for the next five years.
Even though the congress is closed to the media, analysts are confident that the economic and political course of the country will not vary significantly. Analysts predict that Vietnam will ratify the Trans-Pacific Partnership (TPP) and that it will avoid antagonizing China amid territorial disputes in the South China Sea.
According to data collected in the market by focus2move from the VAMA, the Vietnam Associations of Car Manufacturers, and few independent importers, in the 2015 the domestic vehicles market flourished again sustained by solid economic perspectives, low circulating car fleet and growth of the middle class demand.
The market hit the new all time record at 225.160, flying over the barrier of the 200k units for the very first time and already looking ahead towards a potential to double volume in the next five years.
The 2015 increase was a solid +22.8% over the 2014. The market pathway is impressive if you consider only three-year ago it was below the 100.000!
Please note that from this month onwards, we will report about total vehicles sales (cars, plus all commercials) while so far we have reported only about light vehicles (without heavy trucks and bus).
Toyota was the leader with a record of 50.362 sales (+23.4%) ahead of Kia with 38.627 (+75.5%) and Ford with 22.982 (+64.3%).
The domestic producer of HCV, Thaco ranked in fourth pace with 21.034 vehicles sold ahead of Mazda with 20.359 (+115.7%), the fastest growing brand of the year, Honda with 8.312 (+28.0%) and Chevrolet with 7.345 (+182%)
The best-selling models was the Kia k300o with 14.301 units (+75.2%) ahead of the Toyota Vios with 13.761 units (+49.8%) and the Toyota Innova with 9.985 units (+26.5%).
Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.
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To see all data and analysis on this market, see also the just published research: