Price Increase Leads to Immediate Sales Decline for Hyundai Tucson and Santa Fe in December 2023

While all other models of the same brand saw a boost in sales in December 2023, the Hyundai Tucson and Santa Fe duo, in contrast, saw a decline in sales.

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TC Group has recently announced the sales results for December 2023. The company reported a 36.4% increase in Hyundai vehicle sales compared to the previous month. A total of 10,884 Hyundai vehicles were sold in December, bringing the total number of Hyundai vehicles sold in 2023 to 67,450.

The best-selling model in December 2023 was the Hyundai Accent with 2,752 units sold, representing a 63.2% increase. The Accent remained the top-selling Hyundai model in Vietnam throughout 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, which sold 3,022 units. However, the Accent still outperformed the Vios in terms of total sales in 2023, with a cumulative volume of 13,521 units.

Additionally, the Hyundai Accent ranked third overall in terms of sales, following the Mitsubishi Xpander and Mazda CX-5. Within the sedan segment, the Hyundai Accent remained unrivaled.


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

The Creta, another popular Hyundai model, experienced significant growth in December 2023, with 1,953 units sold, marking a 60.3% increase compared to November 2023. The Creta also ranked as the second best-selling Hyundai model in 2023, with a total sales volume of 10,719 units.

The Hyundai Tucson secured third place with 1,147 units sold in December 2023. Although there was a slight decrease in sales compared to the previous month, the Tucson still maintained a strong performance throughout 2023, with a total sales volume of 6,164 units.

The Grand i10 ranked fourth among Hyundai models, with 1,135 units sold in December 2023, representing a 50.9% increase. Overall, a total of 7,944 Hyundai Grand i10s were sold in Vietnam in 2023.

The sales volume of the Hyundai Santa Fe reached 890 units in December 2023, with a cumulative volume of 6,418 units in 2023. However, there was a 16.3% decrease in sales compared to November 2023. The decrease can be attributed to a price increase, with the Santa Fe ranging from 1,029 to 1,369 billion VND in December.

The Hyundai Custin experienced a 52.9% increase in sales compared to November 2023, with 809 units sold. The total sales volume for the Custin in Q4 2023 reached 1,662 units. On the other hand, the Stargazer, another Hyundai MPV, recorded a sales volume of 407 units in December, representing a 14.6% increase. The total sales of the Stargazer in 2023 amounted to 3,857 units.

In December 2023, the Hyundai Elantra achieved sales of 377 units, marking a 13.9% increase. The total sales for the Elantra in 2023 reached 2,874 units. The Hyundai Palisade gradually overcame component supply shortages, with a sales volume of 258 units in the last three months of 2023. In total, 413 units of the Palisade were sold in 2023. The Hyundai Venue, a subcompact SUV introduced by Hyundai Thành Công on December 16th, 2023, 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, the domestic car manufacturing and automotive industry in Vietnam is projected to experience positive growth and progress in 2024, aided by stabilization in global crises and effective government support policies.

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