The Vietnamese pickup truck market is buzzing with the strong resurgence of the Toyota Hilux. According to data from the Vietnam Automobile Manufacturers Association (VAMA), pickup truck sales in May 2024 saw impressive growth. Among them, the Hilux stands out with a remarkable “comeback,” solidifying its position in the Toyota pickup truck segment.
Toyota Hilux: From “Slow Sales” to Remarkable Breakthrough
Toyota Hilux on display at a dealership
The Hilux’s journey in Vietnam has experienced many ups and downs. Having been discontinued in 2022, the Hilux returned in March 2023 but was unsuccessful. The 2.4L 4×2 AT version, priced at VND 852 million, was considered too high compared to the general market. Sluggish sales of only 134 vehicles in the entire year of 2023 led to the Hilux continuing to be “absent” in January 2024.
May 2024 marked the Hilux’s remarkable return with a mid-cycle facelifted version. Still using the 2.4L engine, Toyota diversified the options with 3 versions, priced from VND 668 – 999 million. As a result, the Hilux achieved sales of 308 vehicles, 2.3 times higher than the sales of the entire year 2023, and rose to 2nd place in the pickup truck segment.
Comparing Toyota Pickup Trucks with Competitors
Competition in the pickup truck segment is increasingly fierce. Besides Toyota pickup trucks, the Ford Ranger still maintains its leading position with 1,477 vehicles sold in May 2024. The Mitsubishi Triton and Isuzu D-Max also recorded positive growth, reaching 163 and 33 vehicles respectively. Meanwhile, the Mazda BT-50 has been “killed off” by THACO from the market.
Conclusion: Hilux – Toyota’s New Hope in the Pickup Segment
The return of the Hilux with impressive sales has breathed new life into Toyota’s pickup truck segment in Vietnam. The diversification of versions and price adjustments show that Toyota has listened to the market and made appropriate changes. Can the Hilux continue to maintain its growth momentum and compete fairly with its rivals? Time will tell.
