According to the data from the Vietnam Automobile Manufacturers Association (VAMA) and the Hyundai Thanh Cong Joint Venture (TC Motor), the Vietnamese automobile market experienced a significant decline in the first month of 2024 compared to December 2023. This is evident in the top 10 best-selling cars in January 2024, where almost all car models had a decrease in sales, with 8 models selling less than 1,000 units.
At the end of January 2024, the Mitsubishi Xpander topped the sales chart with 1,285 units sold, a 54.2% decrease compared to the 2,809 units sold in the previous month. In second place is the Ranger with 1,143 units delivered to customers in the first month of the year, a 40% decrease.
Meanwhile, the Hyundai Accent maintained its third position with 915 units sold, a decrease of 1,837 units compared to December 2023. The fourth position is held by the Mazda CX-5 with 807 units sold, a 60.6% decrease.
Notably, the Toyota Vios, a B-segment sedan, experienced a drastic decline in sales in January 2024, dropping by 80% compared to the previous month to 653 units.
In the gloomy picture of the Vietnamese car market in the first month of 2024, the Honda HR-V stands out as the only model to achieve positive growth. In fact, the HR-V ranked 5th with 801 units sold, an increase of nearly 16% compared to the previous month.
