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The report from VAMA and TC Group shows that the overall market sales in May have declined, mostly due to the challenging economic conditions. In the affordable urban car segment, the market’s declining trend continues to be evident.
In May, the total sales of Kia Morning and Hyundai Grand i10 reached 527 units. This number is 46 units lower than in April, equivalent to a decrease of almost 15%.
The boring dual
Hyundai Grand i10 used to struggle to rise to the top position in the A-segment when VinFast Fadil was still being sold. However, since the Vietnamese brand’s model stopped distribution, Hyundai Grand i10 quickly took the top spot without encountering any obstacles from its competitors.
The sales of Grand i10 in May reached 407 units, a decrease of 87 units compared to April. Direct competitor Kia Morning also recorded a decrease in sales to 120 units in May.
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In the first 5 months of the year, TC Group has delivered 3,146 units of Hyundai Grand i10, while Thaco has only sold 723 units of Kia Morning. The appeal of the Grand i10 mostly comes from the diversity in variant choices. It is also the only model in Vietnam that has both hatchback and sedan variants.
With a difference of more than 2,400 units in less than half a year, Kia Morning will have a hard time catching up with Hyundai Grand i10 in the sales battle for the best-selling A-segment car in 2023.
More choices are coming
Toyota Vietnam has reintroduced the Wigo to the market a few days ago. Despite the upgrades, many people doubt the success of this Indonesian imported model. In the past, the Wigo has often been at the bottom of the sales rankings in the A-segment.
In the near future, the small urban car segment will welcome the wave of mini electric cars, with Wuling Hongguang Mini being the first product to enter the Vietnamese market. In February, TMT Motors confirmed that they will assemble and officially distribute this Chinese electric car model.
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VinFast has also recently announced the first details about the VF 3 – a mini electric car model. According to the plan, customers can place orders for the VF 3 in September this year and receive the car in Q3 2024.
The addition of more electric car models is likely to make the A-segment car market, which is currently dull, become more vibrant. While electric cars cannot completely replace gasoline cars, mini electric cars still have the ability to meet the needs of customers who require a daily commuting car as well as those who travel within a range of under 200 km after each charge.
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