The Vietnamese pickup truck market experienced strong growth in February, with the Ford Ranger continuing to lead the segment. The model recorded an impressive 27% increase compared to January, reaching sales of 1,218 units and rising to 3rd position in the top-selling cars in the entire market, only after Mitsubishi Xpander and Hyundai Accent.
Ford Ranger dominates Vietnam's pickup truck market in February with impressive sales
The second position belonged to the Mitsubishi Triton with a significant growth of 75%, reaching 146 units sold, surpassing the Mazda BT-50. To maintain this growth momentum, Mitsubishi has implemented an attractive promotion program, supporting 50% of the registration fee worth up to 28 million VND and offering a dashcam worth 2.5 million VND.
Mitsubishi Triton shows strong growth in the pickup truck segment in Vietnam in February
Meanwhile, the Mazda BT-50 maintained stable sales with 85 units, with no growth compared to the previous month. Notably, the Mazda BT-50 had a major promotion in February, with discounts and support of up to 80 million VND, but it was not enough to compete with its rivals.
Mazda BT-50 maintains stable sales in a competitive pickup truck market
The Isuzu D-Max continued to rank last with a slight increase in sales, reaching 61 units in February 2023. Nissan Navara did not disclose sales this month.
The Vietnamese pickup truck market continues to witness the dominance of the Ford Ranger, as this model accounts for the majority of the market share, far ahead of the remaining competitors. The cumulative sales of other models in the segment are still not equal to a small part of Ranger’s sales.
Ford Ranger dominates the Vietnamese pickup truck market share, leaving competitors far behind
Although competitors often launch attractive promotions and have more competitive prices, the difference in equipment and technology makes Vietnamese consumers increasingly prioritize choosing the Ford Ranger. Vietnamese customers are willing to pay more to own a pickup truck equipped with many modern and convenient features.
In that context, the Toyota Hilux is seen as the only potential competitor that can compete with the Ford Ranger in terms of technology. However, this model has not yet returned to the Vietnamese market after temporarily stopping imports in early 2022 due to emission standards issues.
Toyota Hilux, a potential competitor to the Ford Ranger in the Vietnamese pickup truck market
According to information from sales consultants, the 2023 Toyota Hilux is expected to return to the Vietnamese market in March with the 2.4 4×2 AT version, priced at an estimated 852 million VND, a significant increase compared to the past. The return of the Hilux is expected to liven up the pickup truck market and bring more choices to consumers, although the ability to compete directly with the Ford Ranger is still a major challenge.
