- Vietnam has one of the lowest rates of car ownership in the ASEAN region. With a significant economic boom in the early 2000s, the country experienced a strong growth in the automotive market, especially between 2006 and 2009. During this period, the Vietnamese car market tripled from 40 000 units to 120 000 units.
- The Vietnamese market began to decline in 2009, from 120 000 to 80 000 units in 2012. This decline in car sales was the result of a sanitation policy introduced by the Vietnamese state that began in 2011-2012.
- In 2013, the automobile market made up for half of its delay, from 80 000 to 100 000 units. Thanks to a balanced economic climate. The 2013 top five manufactures are the same as in 2012, Toyota remains the market leader with 36% market share. (Best selling models: Fortuner, Innova, Camry, Corolla, Vios), far ahead of Hyundai-Kia (18% of market), Ford (9%), GM (5%) and Honda (5%).
- In the first quarter of 2014, the Vietnamese market has confirmed this positive trend with an increase in vehicle sales (PC + LCV) of 36% to 41 300 units (26 800 PC and 14 500 LCV) compared to the same period last year. Of total sales, 74% of vehicles sold in Vietnam were assembled locally (CKD) while 26% was imported (CBU).
- These figures bode well for a market that could reach 125 000 units throughout 2014. In the first quarter of 2014, regarding manufacturers, Toyota remains the leader with more than 3 000 units sold (+8% ) while Ford (939 units) increased by 37%.