Vietnam 2020. Hyundai is the star of the year (+1238.8%) in a market growing 8%

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Vietnam car market
The 2021 Hyundai i20

Vietnamese vehicles market in 2020 falls gains 8% despite the pandemic and restrictions. Full-Year sales have been 384.934 (including HCVs). Hyundai is the star of the year, jumping from 10th to 1st place increasing sales by 1238.8%.

Market Trend

The Vietnamese car market was able to grow despite the COVID-19 pandemic affecting sales in almost all markets.

The market has scored an impressive series of all-time records ending 2016 with more than double compared to 2012. However, in 2017 the market scored the first break after years, down 12.6%.

In 2018, the market started immediately to recover, signing an 11.1% growth, while in 2019 it kept surging by 14.3%.

After starting the year with a very negative trend (-41.9%), the market grew significantly in February (+27.2%) before falling in March (-32.6%) due to the pandemic, which led to the sharpest drop in sales in April (-43.7%).

The market recovered quickly and impressively, in fact, in June (+1.4%) sales grew again and remained positive during the entire second half of the year, with the biggest growth recorded in November (+62.6%).

Indeed, Full-Year sales for 2020 have been 384.934 (including HCVs), reporting a growth of 8% compared to 2019.

Vietnam monthly sales variation 2020
Vietnam monthly sales variation 2020

Brand-wise, this year the new leader Hyundai (+1238.8%) went from 1.9% market share to 20.1%, followed by the previous leader Toyota (-10.4%), which lost 7.1% share. Kia on the other hand lost 2.2% share despite gaining 2.2%.  Mazda remained in 4th place and reported a loss of 1.5%, followed by Mitsubishi -up 1 spot- which lost 5.5%.

Thaco -up 2 spots- gained 83.6%, followed by Ford (-22.6%) -down 2 spots- and Honda -down 5 spots- which reported the worst performance on the leaderboard by losing 26.2%. Closing the leaderboard we have VinFast holding 6% share and Suzuki -down 1 spot- gaining 23.2%.

The most sold vehicle this year remains the Toyota Vios (+10%) with 29.891 units sold, followed by the Hyundai Accent, which gained 40% registering 20.776 new sales this year. The Hyundai Grand i10 (+77.6%) closes the podium and reports 17.569 new units sold.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

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