Which company sells the most assembled cars in Vietnam?

The Vietnamese auto market has been established for nearly 30 years with the presence of most major brands. In the popular segment, VinFast is a rare domestic brand that has built a long-term business plan, based on domestic production and exports.

The rest of the market is Japanese, Korean, American, and French automakers with different business strategies. Some companies only assemble, they only import, but there are also brands that combine both forms when selling cars in Vietnam.

Here are the sales statistics of domestically assembled passenger cars of the brands:

Two Korean brands, Hyundai and That all rely entirely on domestic assembly (only for cars). Sales of both cars lead the entire popular car market, especially in the CKD segment.

With Hyundai is more than 60,000 vehicles, and Kia has more than 45,000 cars, figures for 2021. The total sales of the Korean brand duo is 105,933 vehicles, nearly equal to all other brands in the market combined (126,135 vehicles). In early 2022, Kia even sold the most CKD cars with nearly 16,800 cars. Hyundai is in second place selling more than 15,800 vehicles.

Hyundai assembled and distributed by TC Motor (subsidiary of Thanh Cong group). The company’s first factory is located in Gian Khau Industrial Park, Ninh Binh province. In September 2020, factory No. 2 started construction and is expected to complete phase 2 by 2025, increasing the production capacity of Hyundai vehicles in Vietnam to 170,000 vehicles/year. The company is selling products such as i10, Accent, Elantra, Cretaceous, Tucson, Santa Fe, Kona (pause).

That is a subsidiary of Hyundai but operates separately in Vietnam. Truong Hai (Thaco) holds the right to assemble and distribute Kia cars. The factory is located in Chu Lai Industrial Park, Quang Nam province with a designed capacity of about 50,000 vehicles per year. Kia products in Vietnam include: Morning, Soluto, K3, Sonet, Seltos, Sorento, Carnival…

Besides Kia, Thaco also assembles two other brands, Mazda and Peugeot. If combining 3 brands, this company currently sells the most assembled cars in Vietnam, with more than 72,500 vehicles. In the first quarter of 2022, Thaco continued to lead in sales of CKD cars with more than 27,000 vehicles.

Owning a large-scale factory in Dinh Vu – Cat Hai Industrial Park (Hai Phong) with a maximum design capacity of about 250,000 vehicles/year, VinFast becoming a rare domestic car company participating in the automobile manufacturing industry in Vietnam. VinFast’s CKD car sales in 2021 are about more than 35,700 vehicles with the largest contribution from Fadil, the best-selling car model in the market. From 2023, the company will completely switch to electric vehicle production.

Toyota is the number one car company in the market in terms of sales in general, the CKD segment alone accounts for about 44.5%, equivalent to a sales volume of more than 30,000 vehicles. This is the brand that balances the two most assembled and imported forms on the market. The company’s best-selling assembled cars like Vios, Fortuner.

All of the companies listed above have auto assembly plants in Vietnam. Private Suzuki and Isuzu sales of CKD cars are zero because the domestic factories of the two firms only assemble commercial vehicles. Mitsubishi sales of CKD cars are quite low (423 units) because the factory in Binh Duong only has to install Outlander. Sample Xpander has suspended assembly, only selling imported cars.

Firms like Ford, Honda’s motobike relies heavily on assembled products, but sales do not exceed 18,000 vehicles. Ranger (assembled version sold from July 2021) is the main car line of the US joint venture, while Honda has City and CR-VAT are two best-selling assembled products.

Thanh Nhan