Toyota’s troubles double in Vietnamese market

An economic downturn and a safety test scandal linked to Toyota’s subsidiary have piled pressure on Toyota Vietnam. However, if the number of Lexus cars finding buyers was excluded from Toyota’s sales, Hyundai’s turnover would exceed Toyota’s by nearly 300 units. Despite the narrow gap, the ongoing global and local economic slowdown is expected to hamper the growth of Toyota Vietnam in 2024. Photo: ToyotaA safety test scandal associated with Toyota’s unit is another blow to the brand in the Vietnamese market. In spite of no direct influence on Vietnamese customers, the scandal hitting Toyota has dented the Japanese automaker’s reputation and reduced trust in Toyota Vietnam.