1,300 cars are sold in Vietnam every day.

In the first nine months of 2022, the entire Vietnamese automobile market consumed more than 352,700 vehicles of all types, equivalent to an average of about 1,300 cars sold per day.

The figure also corresponds to the average rate of one new car finding an owner every minute. This data combines sales figures from the Vietnam Automobile Manufacturers Association (VAMA), imported brands, VinFast, and TC Motor, the distributor of Hyundai vehicles.

Specifically, sales in the first three quarters of 2022 for VAMA member companies and other importers totaled 296,403 vehicles. Compared to the same period in 2021, a year heavily impacted by the Covid-19 pandemic, market sales increased by 56%. Hyundai's sales reached 56,320 vehicles, a 27% increase compared to the same period last year.

Sales in the market, specifically in September, also showed growth. VAMA and importers sold 33,463 vehicles, an 8.5% increase compared to the previous month and a 147% increase compared to the same period in 2021. For TC Motor, Hyundai's sales in September reached 8,680 vehicles, a 59% increase compared to the previous month and a 112% increase compared to the same period last year.

In September, VinFast did not release sales figures and has not given a specific reason. From July 15th, the company stopped selling gasoline-powered vehicles and focused on fulfilling previously delayed orders. Starting in 2023, VinFast will only produce purely electric vehicles.

The Vios, the best-selling car in Vietnam as of September 2022. Photo:TMV

Toyota remains the market leader. The Japanese joint venture sold 64,130 vehicles in the first three quarters of 2022. Models like the Vios, Corolla Cross, and more recently the Veloz Cross have helped Toyota maintain its dominant position for many years.

Following Toyota is TC Motor, whose main distributor is Hyundai. Sales of the South Korean brand reached 56,320 vehicles in the first nine months. In 2023, the company will also distribute Skoda, a Czech Republic car brand.

Kia is the third-best-selling brand in the market with 47,792 vehicles. If only passenger cars are considered, Kia surpasses Hyundai as the second-best-selling brand in Vietnam.

As September draws to a close, the Vietnamese automotive market enters its final push. Many new models have been and will be launched in October and the coming months to heat up the year-end sales season. Sales are therefore likely to continue to grow.