SUV sales in January 2024: Hyundai Santa Fe plummets, Toyota Fortuner struggles to sell 100 vehicles

Declining sales is the situation of the entire Vietnamese automotive market in general and the mid-size SUV segment in particular. In January 2024, no mid-size SUVs saw an increase in sales, with Hyundai Santa Fe experiencing the sharpest decline. Meanwhile, both Toyota Fortuner and Isuzu MU-X had sales below 100 units.

Sales of mid-size SUVs in January 2024 (in units)

Ford Everest: 785 units

Despite being a popular model in the mid-size SUV segment, the Ford Everest still experienced a decline in sales in the first month of 2024. Specifically, the model sold 785 units, a 47.1% decrease compared to December 2023. However, this American SUV still maintains its position as the leader in the segment, far surpassing its competitors.

The Ford Everest is favored by Vietnamese customers thanks to its attractive and modern design, abundant comfort and safety features, and spacious 7-seater interior. In addition, it offers two fuel-efficient diesel engine options with strong towing capabilities.

The first option is a single turbocharged 2.0L diesel engine, delivering a maximum power of 170 horsepower and a peak torque of 405 Nm, paired with a 6-speed automatic transmission. The second option is a twin-turbocharged 2.0L diesel engine, providing a power of 210 horsepower and 500 Nm. This engine is paired with a 10-speed automatic transmission and is only available in the top-of-the-line variant.

The Ford Everest currently has 5 variants with prices ranging from VND 1.099 billion to 1.499 billion. In March 2024, Ford will launch a new variant called the Platinum for this mid-size SUV lineup in Vietnam. The Ford Everest Platinum is rumored to have a price tag of up to VND 1.7 billion, replacing the Wildtrak variant.

Mazda CX-8: 172 units

In January 2024, Mazda sold 172 units of the CX-8 to Vietnamese customers, a 50.4% decrease. However, this model climbed to the second position in the segment, surpassing strong competitors like the Hyundai Santa Fe.

The highlight of the Mazda CX-8 is its competitive price. Currently, it is one of the most attractively priced models in the mid-size SUV segment, ranging from VND 949 million to 1.129 billion.

In addition, the Mazda CX-8 features a sleek, stylish design and a sturdy structure. It is equipped with convenient features such as automatic/folding/exterior-affixed mirrors with heating function, heated/leather-wrapped steering wheel, sunroof, wireless charging (Qi standard), auto-dimming full-width rearview mirror, independent 3-zone automatic air conditioning, head-up display, 7-inch digital instrument cluster, 8-inch touch screen with wireless Apple CarPlay/Android Auto, and a 10-speaker Bose sound system.

The Mazda CX-8 currently has only one engine option, which is the 2.5L Skyactiv-G gasoline engine, generating a maximum power of 188 horsepower and a peak torque of 252 Nm. It is paired with a 6-speed automatic transmission, front-wheel drive or all-wheel drive, depending on the variant. Additionally, the Mazda CX-8 is equipped with the advanced G-Vectoring Control Plus (GVC Plus) for enhanced acceleration control.

Mitsubishi Pajero Sport: 136 units

The model with the lowest decrease in sales in the mid-size SUV segment in January 2024 is the Mitsubishi Pajero Sport. With only a 23.1% decrease, this model sold 136 units. Thanks to its consistent performance, the Mitsubishi Pajero Sport reached the third position in the segment.

In February 2024, Mitsubishi is running a promotion for the Pajero Sport, offering a 50% reduction in registration fees and one year of physical damage insurance to maintain its appeal during the Lunar New Year month.

In Vietnam, the Mitsubishi Pajero Sport is available in 2 variants with prices ranging from VND 1.13 billion to 1.365 billion. This 7-seater SUV from Mitsubishi is equipped with a 2.4L Mivec diesel engine, producing a maximum power of 178 horsepower and a peak torque of 430 Nm. The drivetrain can be either 2WD or 4WD, with a rear differential lock available in the top variant.

In addition, the vehicle features notable equipment such as Bi-LED headlights with automatic on/off and height adjustment, LED daytime running lights, LED fog lights, 18-inch alloy wheels, power-folding/power-adjustable/turn signal-integrated exterior mirrors, and hands-free power tailgate.

Hyundai Santa Fe: 130 units

In contrast to the Mitsubishi Pajero Sport, the Hyundai Santa Fe had the highest decline in sales in the mid-size SUV segment, with a staggering 85.3% decrease. In January 2024, this Korean model only sold 130 units, ranking fourth in the segment and falling behind both the Mazda CX-8 and the Mitsubishi Pajero Sport.

In addition to the general situation of the overall market, the decline in Hyundai Santa Fe sales may also be affected by the price increase. Specifically, the price of this model has been adjusted to a higher range, from VND 1.029 billion to 1.369 billion.

In Vietnam, the Hyundai Santa Fe is favored for its stylish design, diverse range of comfort and safety features, as well as engine options. The vehicle is equipped with a 10.25-inch touchscreen infotainment system with navigation specifically designed for the Vietnamese market, 360-degree camera support, a 12.35-inch digital instrument cluster, head-up display, 10-speaker Harman Kardon audio system, and more.

Under the hood, there are three engine options. The first is a 2.5L Smartstream Theta III gasoline engine, delivering a maximum power of 180 horsepower and a peak torque of 232 Nm, paired with a 6-speed Shiftronic automatic transmission. The second option is a 2.2L Smartstream diesel engine, providing a power of 202 horsepower and 440 Nm. It is coupled with an 8-speed wet dual-clutch automatic transmission and is only available in the top variant. Finally, there is the Hyundai Santa Fe Hybrid, which uses a turbocharged gasoline engine with a displacement of 1.6L and an electric motor. The gasoline engine produces a maximum power of 180 horsepower and a peak torque of 265 Nm. The electric motor has an output of 44.2 kW, equivalent to nearly 60 horsepower. It is paired with a 1.49 kWh battery (270 V, 5.5 Ah) and a 6-speed automatic transmission.

Kia Sorento: 113 units

The fifth-ranked model in terms of sales in the mid-size SUV segment is the Kia Sorento. In the past month, this model sold 113 units, a 23.6% decrease. Alongside the Mitsubishi Pajero Sport, this is also a model with a low decline rate in the segment.

In the mid-size SUV segment, the Kia Sorento currently has the highest price, ranging from VND 979 million to 1.569 billion. Moreover, it is also the model with the highest number of variants and engine options.

The first option is the 2.5L MPI Smartstream gasoline engine, generating a maximum power of 177 horsepower and a peak torque of 232 Nm, paired with a 6-speed automatic transmission. The second option is the Smartstream D2.2 diesel engine, producing a power of 198 horsepower and 440 Nm, combined with an 8-speed dual-clutch transmission.

Furthermore, there are hybrid and plug-in hybrid powertrains, both featuring a turbocharged 1.6L gasoline engine with 178 horsepower and 265 Nm, as well as an electric motor and a 6-speed automatic transmission. The electric motor in hybrid variants has a power output of 60 horsepower and 264 Nm. In plug-in hybrid variants, the corresponding figures are 90 horsepower and 304 Nm.

Toyota Fortuner: 63 units

January 2024 witnessed a downturn in Toyota Fortuner sales as it only sold 63 units, a significant 69.8% decrease. Although the decline rate is not as high as Hyundai Santa Fe, Toyota Fortuner still experienced disappointing sales results and dropped to the second-to-last position in the segment, outranking only the Isuzu MU-X.

In January 2024, Toyota Fortuner received several upgrades, including a 9-inch touchscreen display with wireless connectivity for smartphones via Apple CarPlay and Android Auto. Additionally, Toyota Fortuner eliminated two variants, leaving only 5 variants, and reduced prices from VND 63 million to VND 120 million, with the new range being VND 1.055 billion to 1.35 billion.

Unfortunately, the aforementioned changes could not make the Toyota Fortuner more appealing to Vietnamese consumers.

Isuzu MU-X: 19 units

As usual, the Isuzu MU-X continues to be the worst-selling model in the mid-size SUV segment, with sales of only 19 units, a 54.7% decrease. Therefore, the Isuzu MU-X once again belongs to the list of the least popular models in the Vietnamese market.

The Isuzu MU-X is currently one of the most attractively priced models in the segment, ranging from VND 911 million to 1.25 billion. However, the Japanese model has a weak point, which is its exterior design not being highly regarded.

The Isuzu MU-X in Vietnam is equipped with a 1.9L 4-cylinder diesel engine, producing a maximum power of 150 horsepower at 3,600 rpm and a peak torque of 350 Nm in the range of 1,800 – 2,600 rpm. The top variant is coupled with a 4WD system and a 6-speed automatic transmission. The remaining variants come with rear-wheel drive and a differential lock.