Ford Vietnam is on a roll, and the numbers prove it. In 2023, they broke records with over 38,800 vehicles sold, capturing an impressive 10% of the VAMA market share. And they’re not slowing down, introducing a range of upgraded models to the Vietnamese market, including the Ranger, Everest, and Transit. The star of the show, however, is the all-new 2024 Ford Transit—a complete transformation from its predecessor.
The 2024 Ford Transit is one of the newest additions to the American automaker’s lineup in Vietnam.
Transit Expands Customer Base in Vietnam
The 2024 Ford Transit is a significant upgrade, boasting a new chassis, modern design, and advanced technologies not found in its class. It’s the only van in Ford’s current lineup in Vietnam, and it comes loaded with features like LED lighting, dual large screens in the cabin, cruise control, electronic balance, and even a premium configuration with business-class seats. This new generation Transit is a key product for Ford in Vietnam, evident from the presence of Ford’s top executives, including Ms. Kay Hart, President of Ford’s International Markets Group, and Ms. Yukontorn “Vickie” Wisadkosin, President of Ford Southeast Asia, at the launch event.
Ms. Kay Hart (left) and Ms. Yukontorn “Vickie” Wisadkosin (right), Ford’s top global and regional executives, attended the 2024 Transit launch event.
When asked about the target audience for the 2024 Transit, Ms. Kay Hart emphasized Ford’s commitment to meeting diverse customer needs in Vietnam. By offering different versions like the Trend, Premium, and Premium+, Ford aims to reach a broader range of customers.
With the recent boom in self-drive tourism, the new Transit could also appeal to motorhome enthusiasts. Ms. Hart acknowledged that using the Transit as a motorhome presents a significant opportunity for this versatile van.
The 2024 Ford Transit comes in multiple versions, catering to various customer segments.
The 2024 Transit is currently assembled in Vietnam and is exclusively available to domestic customers. Ford has no immediate plans to export this new model to other regional markets. According to Mr. Ruchik Shah, Ford Vietnam’s CEO, the decision to export depends on various factors, including market size, costs, and consumer preferences in the target market.
Territory is a “Game-Changer,” Ranger and Everest Get Regular Upgrades
Ford considers its other products, including the Territory, Ranger, and Everest, as strategic offerings. The company’s research-backed approach is evident in the impressive sales figures for these models in 2023. Both the Ranger and Everest topped their respective segments, while the Territory, a newer entrant, quickly rose to second place in its category. Ms. Kay Hart attributes this success to Ford’s strategy of listening to the market and customers, ensuring their products meet the region’s demands.
The Territory has quickly become a top-selling SUV in Vietnam, outperforming established competitors.
Ms. Hart highlighted the Territory as a “game-changer” in the Middle East, and it has also been adapted for the South African market with a right-hand drive configuration. In Vietnam, the Territory has won over customers, with over 8,000 units sold in 2023, outpacing popular models like the Honda CR-V and Hyundai Tucson.
Ford is committed to regularly upgrading the Ranger and Everest, introducing new versions to meet diverse market demands. This is evident in Vietnam, with the recent additions of the Ranger Stormtrak and the top-of-the-line Everest Platinum.
Ford promises regular upgrades for the Ranger and Everest, ensuring they stay competitive.
Ford has no immediate plans to introduce new models to Vietnam beyond the Territory, Ranger, and Everest. The company is carefully studying the market to identify the best products for the local SUV segment, which currently has a gap after the discontinuation of the EcoSport.
Ford Vietnam Approaches Electric and Hybrid Vehicles with Caution
While other brands are rushing to introduce electric and hybrid vehicles to Vietnam, Ford is taking a more cautious approach. Globally, Ford is actively engaging with these new technologies, as evidenced by the all-electric Ford Transit sold in China and the upcoming hybrid Ford Ranger in Australia in early 2025. However, Mr. Ruchik Shah, Ford Vietnam’s CEO, stated that they are carefully studying the market and will introduce electric and hybrid vehicles to Vietnam at the right time.
Mr. Ruchik Shah, Ford Vietnam’s CEO, believes that electric and hybrid vehicles are not yet suitable for the current market.
Despite the cautious approach to electric vehicles, Vietnam remains a key market for Ford. Ms. Kay Hart emphasized that Vietnam is a high-potential market within the ASEAN region, alongside other important markets like South Africa, Australia, New Zealand, and the Middle East.
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