Vietnam’s Automobile Sales by Segment: SUVs Increased Over 30%, A and B Segments Sold Well Also in 2020

Vietnam’s automobile market decreased 2.5% from the previous year to 395,000 units (the combined sales of manufacturers affiliated with VAMA and two non-members Hyundai’s local subsidiary HTCV and Vietnam’s VinFast) in 2020. Trends in 2020 include the further expansion of the medium and large SUV segment, which is Vietnam’s largest vehicle segment, and the growth of the A segment due to the entry of VinFast, a local emerging manufacturer.

Passenger cars rose 5.0% to 170,000 units. Of which, the A segment expanded 22.7% to 47,000 units. The VinFast Fadil, launched in June 2019, took the lead in the segment with 18,000 units. The B segment went up 2.9% to 76,000 units. Vietnam’s top-selling model Toyota Vios increased 11.3% to 30,000 units, and the Hyundai Accent, ranked second, rose 5.4% to 21,000 units. The C segment declined 21.8% to 32,000 units. Although the Kia Cerato increased 6.4%, all other models decreased double digits. The D and above segments increased 75.7% to 14,000 units thanks to the addition of the VinFast Lux A2.0, launched in July 2019.