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The Toyota Wigo’s new generation was introduced in Indonesia during late Q1 and will officially launch in Vietnam tomorrow (6/6). This reemergence of the Wigo will undoubtedly face numerous challenges as the entire car market is declining, along with the trend of shifting to SUVs and the emergence of mini electric cars.
What does the new generation of the Toyota Wigo need to directly compete with the Hyundai Grand i10, Kia Morning, and other competitors in the market?
Adapting to Change
The newly introduced Toyota Wigo in Indonesia appears to be sportier and more modern compared to the old generation previously sold in Vietnam. The dimensions suggest that the Wigo 2023 will offer a more spacious cabin.
Unlike the known design, the confirmed equipment on the Wigo upon its release in Vietnam remains unknown. The equipment may vary between countries due to factors such as cost, customer needs, as well as the different standards of the countries in which the car is sold.
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The image of the Toyota Wigo GR Sport in the Indonesian market. |
According to some sources from dealers, the Toyota Wigo 2023 will feature upgrades in the lighting system, as well as additional paddle shifters (for the automatic version) and a 7-inch TFT screen… These changes promise to help the Toyota Wigo compete more evenly with the Kia Morning and Hyundai Grand i10.
In addition to the aforementioned upgrades, the Toyota Wigo also needs to improve its safety technology if it wants to make a mark upon its introduction. The Toyota car should be equipped with more features such as automatic throttle, hill-start assist, and automatic on/off lights… Having these safety features will certainly appeal to customers looking for a Class A car with full support technology.
Pricing as the Deciding Factor
Prior to being discontinued in Vietnam, the previous generation Wigo had a price range of 325-385 million VND. Despite the upgrades, the Toyota Wigo still needs to find a competitive price range, especially given the declining car market and pressure from numerous competitors.
The new generation Wigo may have a higher price than the previous model; however, the increase needs to be carefully considered by the Japanese automaker to ensure profitability while still attracting customers. The direct competitors, Kia Morning and Hyundai Grand i10, currently have prices ranging from 369-439 million VND and 360-455 million VND, respectively.
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The interior of the new Wigo looks sportier than the old model. |
In addition to the two products in the Class A car segment, the Toyota Wigo also faces obstacles from urban SUVs such as the Toyota Raize and Kia Sonet. The trend of shifting towards SUVs in recent times indicates that the Raize and Sonet will exert significant pressure on the Wigo upon its comeback.
Moreover, the Vietnamese car market will see the introduction of mini electric cars such as the Wuling Hongguang Mini or even VinFast’s mini electric car. These will also be fierce competitors to gasoline-powered urban cars priced under 500 million VND.
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