Car Awards is a program that recognizes and celebrates exceptional products in the automotive industry. It is organized annually by VnExpress newspaper since 2021. Car Awards 2023 officially began in July 2023 and concluded with the awards ceremony on January 14, 2024. This year’s Car Awards consists of 3 categories: “Car of the Year by Segments,” “New Star,” and “Car of the Year in the Whole Market.”
1. Car of the Year by Segments:
The Car of the Year by Segments is an award that honors outstanding car models in the overall market and specifically in various segments in 2023. The eligible cars need to be launched between December 2022 and November 2023. To ensure a comprehensive product experience, cars that were launched in the year but have not yet been delivered to customers, or have very few deliveries, will not be included in the nomination list.
Moreover, to ensure fairness and competitiveness, Car Awards will only recognize the Car of the Year in segments with at least three car models launched. As of November 2023, the Vietnamese market has 6 segments that meet this criterion, including: Low B-segment cars, B-segment crossovers, C-segment crossovers, D-segment SUV/crossovers, Small premium SUVs, and Mid-size premium SUVs.
The car models are evaluated based on over 40 criteria from 7 groups, including: Exterior design, Interior design, Convenience features, Driver assistance, Performance, Safety technology, and Operating cost. In order to stay aligned with market dynamics, the Car of the Year award for this year will also take into account the “sales figures” as an additional evaluation criterion when multiple car models have the same highest score in a segment or in the whole market. The model with higher average monthly sales will have an advantage in becoming the Car of the Year in the segment or in the whole market.
In its third year, Car Awards 2023 continues to apply the “importance coefficient” formula, which reflects the level of importance of each factor in consumers’ car-buying decisions. Each criterion is scored from 0-5 points with 0.5 increments, and then multiplied by the corresponding “importance coefficient,” which has values of 1-3. In this coefficient system, highly important criteria are multiplied by a coefficient of 3, moderately important criteria are multiplied by a coefficient of 2, and less important criteria are multiplied by a coefficient of 1. The coefficients for each criterion will differ between the petrol/diesel and electric vehicle groups, as well as between the premium and non-premium groups. For instance, safety technology has an importance coefficient of 3 for all types of cars, while interior material has a coefficient of 2 for non-premium cars and a coefficient of 3 for premium cars.
After being scored on all criteria and multiplied by the corresponding coefficients, a car model can receive a maximum of 400 points. The car model with the highest score will become the Car of the Year in each segment.
Based on the above scoring criteria, the leading car models in each segment according to the competition’s voting are:
Car of the Year in the Low B-segment: Honda City
Car of the Year in the B-segment Crossover: VinFast VF6
Car of the Year in the C-segment Crossover: Honda CR-V
Car of the Year in the D-segment SUV/Crossover: Kia Sorento hybrid
Car of the Year in the Small premium SUV segment: Mercerdes-Benz GLC
Car of the Year in the Mid-size premium SUV segment: Porsche Cayenne
2. Car of the Year 2023: Honda CR-V
This is the overall award of Car Awards 2023, selected by the organizers from the top-ranked car models in each segment, along with car models in unranked segments (only 1-2 car models launched in the year).
The judges selected the car model to be honored in this award category based on the following criteria:
(1) Outstanding performance in the segment
(2) Trend-setting and demand-inspiring abilities
(3) Accessibility to customers in the segment
Finally, CR-V was named the Car of the Year 2023.
3. New Star: VinFast VF5
This is an unranked category, chosen by the organizers to honor new car models that have made a unique impression in the Vietnamese automotive industry, possess advanced technologies, and are highly rated by customers. This title belongs to Vinfast VF5.
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