Great Deals: Affordable Sedans Boost Sales Growth

A series of promotions have been launched to boost the sales of the B-segment sedans, resulting in a significant increase in sales before entering the final month of 2023.

0
33

The Hyundai Accent is poised to surpass the Toyota Vios in the B-segment sedan category. Photo: Boi Ha.

The B-segment sedan market in Vietnam has seen significant improvement in the past 3 months.

According to the latest sales data released by the Vietnam Automobile Manufacturers’ Association (VAMA), in November 2023 alone, the combined sales of Toyota Vios, Hyundai Accent, Honda City, Mitsubishi Attrage, Mazda2, Kia Soluto, and Suzuki Ciaz reached a total of 4,973 units, the highest for the B-segment sedan category since the beginning of 2023.

A competitive trio

After a period of decline, the Toyota Vios seems to have found its momentum with sales consistently exceeding 1,400 units in the past 3 months. With a total of 1,556 units sold in November, the Toyota Vios continues to be the second best-selling sedan in the B-segment in the Vietnamese market, as TC Group confirmed the successful delivery of 1,686 Hyundai Accent units to Vietnamese customers in the same period.

Through discussions and sales consultations with a Toyota dealership in Ho Chi Minh City, it appears that Vietnamese consumers are increasingly accepting the new design of the Toyota Vios 2023, leading to improved sales. Additionally, the upcoming Lunar New Year holiday and the preferential registration fee policy for domestically assembled vehicles are also contributing factors to the positive sales performance of the Toyota Vios in the final months of the year.

Currently, in addition to the 50% registration fee reduction according to government policy, Toyota dealerships are offering an additional 50% registration fee discount for customers purchasing a Toyota Vios, along with a 10 million VND accessory package and a direct discount of 10-15 million VND depending on the variant.

On the other hand, the rising sales of the Toyota Vios do not seem to be a cause for concern for the Hyundai Accent. After 11 months, the Hyundai Accent’s sales have reached approximately 14,700 units, establishing a gap of over 4,200 units compared to the Toyota Vios.

The battle for the best-selling affordable sedan
Sales figures of the top 3 best-selling B-segment sedans in Vietnam, for November and year-to-date (Data: VAMA, TC Group)
Brand November sales Year-to-date sales 2023
Hyundai Accent 1,686 units 14,700 units
Toyota Vios Not specified 10,499 units
Honda City Not specified 8,391 units

With only one month left in the Vietnamese auto market for 2023, it is almost certain that the Hyundai Accent will become the best-selling affordable sedan in the country this year.

Currently, Hyundai dealerships are offering discounts of 35-37 million VND for customers purchasing a car in December. Because the Hyundai Accent is assembled domestically, it will continue to enjoy a 50% registration fee reduction for the remainder of the year.

Meanwhile, the Honda City is showing signs of lagging behind its two direct competitors. The B-segment sedan from the Japanese automaker recorded a slight increase in sales compared to the previous reporting period, with 884 units sold in November. However, this figure is still modest compared to the over 1,500 units sold by the Hyundai Accent and Toyota Vios in the same period.

In reality, the Honda City’s sales have started to decline since the middle of the year before experiencing a slight recovery in the past 3 months. Currently, dealerships are offering cash discounts of 42-55 million VND for all variants of the Honda City, along with genuine accessory packages for customers purchasing a car in December.

A warming market

Prior to entering the final month of the registration fee reduction promotion for domestically assembled vehicles, the overall Vietnamese auto market has seen a positive growth rate of approximately 10% compared to October, according to VAMA’s report. Amidst this optimistic trend, most of the affordable sedan segment have also experienced an increase in sales compared to the previous reporting period.

With the exception of the aforementioned three models, the remaining affordable sedan segment only saw a slight decline in sales for the Mitsubishi Attrage in November.

Specifically, this Thai-imported sedan achieved a sales figure of 425 units, 13 units lower than the previous reporting period in October. Despite not enjoying the 50% registration fee reduction according to the government policy, customers purchasing a Mitsubishi Attrage are being offered cash discounts of 44-61 million VND in December, equivalent to a practical price range of 336-429 million VND.

Despite various promotional offers from dealerships, the Mitsubishi Attrage’s sales have declined slightly. Photo: Toan Thien.

Meanwhile, the Mazda2 and Kia Soluto achieved sales figures of 323 units and 95 units respectively in November, a slight increase compared to the figures recorded in the previous reporting period of October. Following the facelift version launched in late September, the Standard variant of the Mazda2 is currently priced at 415 million VND, equivalent to many A-segment models in the market, while the Premium variant is priced at 519 million VND.

As for the Kia Soluto, dealerships are currently offering a maximum discount of 20 million VND, accompanied by a one-year body insurance package for the AT Luxury variant. The Kia Soluto has achieved a total sales volume of 436 units in Vietnam in the past 5 months of the second half of 2023, equivalent to a monthly sales figure of over 87 units.

Currently, the Suzuki Ciaz is being offered a 50% registration fee reduction promotion along with a 10 million VND fuel voucher. Sales reports indicate that this B-segment sedan imported from Thailand has maintained a monthly sales figure of 4 units for 2 consecutive months, resulting in a cumulative sales volume of 36 units since the beginning of the year.

With the current situation, excluding the traditional Suzuki Ertiga model, it is almost certain that the Suzuki Ciaz will be the first name on the list of the slowest-selling passenger cars in the Vietnamese market in 2023.

Great books to read during car rides

The Cars section recommends interesting books to readers on various topics. During long journeys with cars, it is not uncommon for us to have moments of rest and relaxation, and books are an exciting companion during these times.

You may also like

[CAR REVIEW] Honda City 2023: Easily Satisfying Consumers

Honda City is a familiar name when it comes to the top-selling B-segment sedans in the market. This car is packed with strong features ranging from its design, performance to its equipment, aiming to persuade and satisfy its customers.

Global NCAP: Safety Levels Vary for Cars in Different Markets

According to the reputable Global NCAP, there is certainly a safety gap between car models designed for different markets.

[QUICK REVIEW] Toyota Yaris Cross is coming to Vietnam: Putting pressure on Kia Seltos, Hyundai Creta

Positioned right below its “big brother” the Corolla Cross, the Toyota Yaris Cross boasts a fresh design and a range of modern features that are sure to shake up the crowded B-segment SUV market. Competing against formidable contenders such as the Kia Seltos, Hyundai Creta, Honda HR-V, and Mazda CX-30, the Yaris Cross stands out with its sleek design and advanced technology. Get ready to turn heads on the road with this impressive crossover.

[CAR REVIEW] Toyota Yaris 2019 after 3 years of use: Similar to Vios but “it’s quite different”

In essence, the Yaris is a hatchback version of the Toyota Vios with many similarities. However, it caters to a completely different group of users, with its own advantages, disadvantages, and value.