Contrary to the usual trends, in January 2024, the Vietnamese car market was not bustling despite it being close to the Lunar New Year. Instead, most car models saw a decrease in sales, including the B-segment sedans.
| No. | Car Model | January 2024 | December 2023 | Percentage Change | Year-to-Date Sales 2024 |
| 1 | Hyundai Accent | 916 | 2,752 | -66.7% | 916 |
| 2 | Toyota Vios | 653 | 3,022 | -78.3% | 653 |
| 3 | Honda City | 482 | 1,503 | -67.9% | 482 |
| 4 | Mazda2 | 372 | 524 | -29% | 372 |
| 5 | Mitsubishi Attrage | 150 | 555 | -72.9% | 150 |
| 6 | Kia Soluto | 41 | 100 | -59% | 41 |
| 7 | Suzuki Ciaz | 3 | 1 | +200% | 3 |
B-Segment Sedan Sales in January 2024 (units: cars)
Hyundai Accent: 916 cars
In January 2024, only 916 Hyundai Accent cars were delivered to Vietnamese consumers, a decrease of 66.7% compared to the previous month. However, Hyundai Accent successfully reclaimed the top spot in the B-segment sedan market from its rival, the Toyota Vios. Additionally, the Accent remains the best-selling model for the Hyundai brand in Vietnam. Furthermore, the Hyundai Accent also made it onto the top 10 best-selling car models in Vietnam in January 2024, ranking 3rd, just behind the Mitsubishi Xpander and Ford Ranger.
Hyundai Accent
In 2023, the Hyundai Accent was also the “king” of the B-segment sedan market. This was achieved thanks to its affordable price range, ranging from 426.1 – 542.1 million VND for 4 variants, appealing design, and adequate features of the Korean car model.
Currently, dealerships are running discount programs for the remaining 2023 Hyundai Accent models. Some dealerships are offering the standard Hyundai Accent variant for as low as 377 million VND, equivalent to A-segment car price.
Toyota Vios: 653 cars
In December 2023, the Toyota Vios reached its peak in the B-segment sedan market by selling over 3,000 cars. However, in the first month of 2024, this car model experienced a significant decline in sales with only 653 cars sold, a decrease of 78.3%. As a result, the Toyota Vios fell behind its rival, the Hyundai Accent.
Toyota Vios
In 2023, the Toyota Vios also lost its position as the king of the B-segment sedan market to its Korean rival. One of the reasons why the Toyota Vios is no longer as popular as before may be due to the controversial design of the facelift version. The new version was launched in May 2023 and was only sold in Vietnam while other Southeast Asian markets had completely redesigned models with updated designs and features.
The Toyota Vios in Vietnam is currently available in 3 variants with prices ranging from 479 – 592 million VND.
Honda City: 482 cars
Similarly to the above-mentioned rivals, the Honda City had an underwhelming month with sales of only 482 cars, ranking 3rd in the B-segment. Compared to December 2023, the sales of Honda City decreased by 67.9%. Additionally, in January 2024, the City was no longer the best-selling car model for the Honda brand, as it was replaced by the HR-V.
Honda City
However, the sales performance of the Honda City is still worth mentioning as this car model has a higher price than most of its competitors, except for the Volkswagen Virtus, with prices ranging from 559 – 609 million VND for 3 variants. In February 2024, Honda is still running a promotion offering 100% registration fee waiver for the City to stimulate sales.
Similar to the Toyota Vios, the Honda City received an update in the middle of its life cycle in July this year. In this version, the car is equipped with the Honda Sensing active safety technology package as standard, a feature that the Toyota Vios and Hyundai Accent models are still missing. Additionally, the car has another significant upgrade which is rear disc brakes.
Mazda2: 372 cars
Ranked 4th in the B-segment sedan market in terms of sales is the Mazda2 with 372 cars sold. The sales of this car model decreased by a smaller percentage compared to its competitors, at 29%.
Mazda2
The stability of the Mazda2’s sales performance is due to its favorable price range, ranging from 420 – 524 million VND for 3 variants. Additionally, this car model has an attractive exterior design that suits the tastes of Vietnamese consumers. However, the Mazda2 has a major drawback, which is a cramped interior space.
This car model is equipped with the same 1.5L Skyactiv-G 4-cylinder gasoline engine with a maximum output of 110 horsepower and a peak torque of 144 Nm. The engine is paired with a 6-speed automatic transmission.
Mitsubishi Attrage: 150 cars
In January 2024, only 150 Mitsubishi Attrage cars were sold, a decrease of 72.9% compared to the previous month. With this result, the Mitsubishi Attrage dropped behind the Mazda2.
Mitsubishi Attrage
The strong point of the Mitsubishi Attrage lies in its attractive price, ranging from 380 – 490 million VND, and its fuel-efficient engine. However, the car’s convenience and safety features are relatively basic and do not stand out in the segment.
In February 2024, the Mitsubishi Attrage is being offered with a 50% registration fee waiver and additional gifts such as a reverse camera or a shark fin antenna.
Kia Soluto: 41 cars
Continuing to hold the last position in the segment is the Korean car model Kia Soluto. In contrast to its sibling, the Hyundai Accent, the Kia Soluto has extremely low sales numbers, with only 41 cars sold in January 2024, a decrease of 59%.
Kia Soluto
Similar to the Mitsubishi Attrage, the Kia Soluto’s biggest advantage is its price, ranging from 386 – 482 million VND. However, this is not enough to convince Vietnamese consumers as the car’s exterior design is not eye-catching, and its convenience and safety features are relatively basic.
The Kia Soluto is equipped with a 4-cylinder 1.4L gasoline engine with a maximum output of 94 horsepower and a peak torque of 132 Nm. The engine is available with both a 5-speed manual transmission and a 4-speed automatic transmission.
Suzuki Ciaz: 3 cars
The last position in the B-segment sedan market once again belongs to the Suzuki Ciaz. In reality, the Suzuki Ciaz is the only B-segment sedan that saw an increase in sales, with a growth rate of 200% up to 3 cars. However, due to the extremely low sales numbers, the Suzuki Ciaz still correctly holds the last position in the segment. Additionally, the Suzuki Ciaz once again made it onto the top 10 list of least-selling cars in the market.
Suzuki Ciaz
In addition to its unappealing design, the Suzuki Ciaz also has the drawback of having only one variant available with a price tag of 534.9 million VND. In February 2024, the car is being offered with a 50% registration fee waiver and 0% interest rate for 6 months, with a total value of 45 million VND.
The “heart” of the Suzuki Ciaz is a 4-cylinder 1.4L gasoline engine paired with a 4-speed automatic transmission, producing a maximum output of 91 horsepower and a peak torque of 130 Nm. Although the engine is not particularly powerful, it offers good fuel efficiency, with a combined fuel consumption of 5.79 liters/100 km.
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