Increase in prices causes immediate drop in sales for Hyundai Tucson and Santa Fe in December 2023

While all other models of the same brand experienced an increase in sales in December 2023, the Hyundai Tucson and Santa Fe duo, on the other hand, experienced a decline in sales.

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On January 10th, 2024, TC Group announced the sales results for December 2023. During the last month of 2023, a total of 10,884 Hyundai vehicles were sold, representing a 36.4% increase compared to the previous month. This brings the total number of Hyundai vehicles sold in 2023 to 67,450.

The Hyundai Accent continued to be the best-selling model in December 2023, with 2,752 units sold, a 63.2% increase. As a result, the Accent maintained its position as the best-selling Hyundai model in Vietnam in 2023, with a total sales volume of 17,452 units.

In December 2023, the Hyundai Accent lost its position as the best-selling B-segment sedan to the Toyota Vios (3,022 units). However, over the course of 2023, the Korean model still outperformed its Japanese rival. In total, the Hyundai Accent sold 13,521 units in 2023.

Additionally, the Hyundai Accent was also the third best-selling model overall, after the Mitsubishi Xpander and Mazda CX-5. Within the sedan segment, no other model surpassed the Hyundai Accent.

The Hyundai Accent was the third best-selling model in the Vietnamese market in 2023.

Similarly, the Creta experienced strong growth with 1,953 units sold, ranking second in the Hyundai lineup. Compared to November 2023, the sales volume of this B-SUV increased by 60.3%. The Creta also ranked as the second best-selling Hyundai model in 2023, with a cumulative sales volume of 10,719 units.

The Hyundai Tucson took third place with 1,147 units sold in December 2023, a slight decrease compared to the previous month. This was not surprising as the price of the Tucson was adjusted to range from 799 to 959 million VND in December. Cumulatively, this C-segment SUV achieved a sales volume of 6,164 units in 2023.

The Grand i10 ranked fourth within the Hyundai lineup with 1,135 units sold, a 50.9% increase. By the end of 2023, a total of 7,944 Hyundai Grand i10s had been sold in Vietnam, making it the third best-selling Hyundai model in the country last year.

Next in line is the Hyundai Santa Fe, with a sales volume of 890 units in December 2023 and 6,418 units throughout 2023. Compared to November 2023, this model experienced a 16.3% decrease in sales. The drop in sales can be attributed to the price increase of the Hyundai Santa Fe, ranging from 1,029 to 1,369 billion VND in December.

Following the Santa Fe is the Hyundai Custin with 809 units sold, a 52.9% increase compared to November, bringing the total sales in Q4 2023 to 1,662 units. Meanwhile, the remaining Hyundai MPV, the Stargazer, achieved a sales volume of 407 units in December, a 14.6% increase. The total sales for this small MPV in 2023 reached 3,857 units.

The Hyundai Elantra ranked next in December with 377 units sold, a 13.9% increase, resulting in a total of 2,874 units sold in 2023. The Hyundai Palisade is gradually overcoming the shortage of component supply, with a sales volume of 258 units and a total of 413 units sold in the last 3 months of 2023. The Venue, Hyundai Thành Công’s newest subcompact SUV, was introduced on December 16th, 2023 and recorded a sales volume of 180 units.

Model Origin December 2023 November 2023 Percentage Increase/Decrease Cumulative 2023
Hyundai Accent CKD 2,752 1,686 +63.2% 17,452
Hyundai Creta 1,953 1,218 +60.3% 10,719
Hyundai Tucson 1,147 1,177 -2.5% 6,164
Hyundai Grand i10 1,135 752 +50.9% 7,944
Hyundai Santa Fe 890 1,064 -16.3% 6,418
Hyundai Custin 809 529 +52.9% 1,662
Hyundai Stargazer CBU 407 355 +14.6% 3,857
Hyundai Elantra CKD 377 331 +13.9% 2,874
Hyundai Palisade 94 258 +174.4% 413
Hyundai Venue 180 – – 180
Commercial vehicles CKD/CBU 936 774 +20.9%
Total 10,844 7,980 +36.4% 67,450

Hyundai sales figures for December 2023 (unit: vehicles)

According to Hyundai Thành Công, in 2024, as global crises gradually stabilize and positive market signs emerge, along with effective government support policies, the domestic car manufacturing and automotive industry will experience good growth and progress.

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