The Rise of the Compact SUV: A Tale of Two Mitsubishis and a Honda.

While the Vietnamese auto market showed signs of growth in May 2024, some models experienced a decline in sales. This was particularly evident in the C-segment SUV category.

C-SUV Sales Table for May 2024 (units: vehicles)

Mazda CX-5: 892 units

In May, Vietnamese consumers purchased a total of 892 units of the Mazda CX-5, representing an 11.5% growth. With this result, the Mazda model maintained its top position in the C-segment SUV market in terms of sales.

Since June 8, 2024, the distributor THACO has made slight adjustments to the pricing of the Mazda CX-5 line. As a result, three versions: 2.0L Premium Active, 2.5L Signature Sport, and 2.5L Signature Exclusive, have been discounted by 10-20 million VND. After the discounts, the prices of these three versions are 819 million, 939 million, and 959 million VND, respectively.

Thus, the price range of the Mazda CX-5 is now from 749 to 959 million VND. With this pricing, the Mazda model remains one of the most affordable choices in the C-segment SUV market in Vietnam. This is also one of the model’s significant strengths.

In addition to its competitive pricing, the Mazda CX-5 appeals to Vietnamese customers with its design that caters to local tastes, a full range of convenience and safety features, and two gasoline engine options with displacements of 2.0L and 2.5L. Depending on the version, the car will feature front-wheel drive or the all-wheel-drive 4-wheel-drive system.

Ford Territory: 540 units

Similar to its rival, the Mazda CX-5, the Ford Territory also had a successful month with a 20.2% sales growth to 540 units. This result propelled the American model to second place in the segment, surpassing the Honda CR-V.

Since April 2024, the Ford Territory’s price has been adjusted to a range of 799-929 million VND. The company’s decision to lower the price has helped maintain the model’s popularity in the C-segment SUV market.

The Ford Territory is highly regarded by domestic consumers for its imposing appearance, eye-catching design, spacious interior, and extensive convenience and safety features. It is equipped with a 1.5L EcoBoost 4-cylinder turbocharged gasoline engine that produces a maximum output of 160 horsepower and a peak torque of 248 Nm. This engine is paired with a 7-speed wet dual-clutch automatic transmission.

Hyundai Tucson: 430 units

The third-best-selling model in the C-segment SUV market in May 2024 was the Hyundai Tucson. This South Korean model sold 430 units, a 10.4% decrease compared to the previous month. However, the Hyundai Tucson still outsold its rival, the Honda CR-V.

Similar to the Ford Territory, Hyundai applied a new listed price for the Tucson starting in April 2024. The new price range of this model is only from 769-919 million VND, increasing its competitiveness.

The Hyundai Tucson is known for its distinctive design, spacious interior thanks to its large wheelbase, and diverse engine options. Accordingly, the car currently offers three engine choices: the Smartstream 4-cylinder 2.0L gasoline engine, the Smartstream 4-cylinder 2.0L diesel engine, and the turbocharged 4-cylinder 1.6L gasoline engine.

The power output of this model ranges from 156 to 180 horsepower and 192 to 416 Nm of torque. These engines are mated to a 6-speed automatic transmission, an 8-speed automatic transmission, or a 7-speed dual-clutch automatic transmission. The car also features front-wheel drive or 4-wheel drive HTRAC, depending on the version.

Honda CR-V: 317 units

The Honda CR-V experienced the highest decline in sales within the C-segment SUV market in May 2024. With only 317 units sold, a decrease of 49.3%, it dropped to fourth place in the segment. Among these, only 29 units were of the hybrid version, a drop of 94.5% compared to April 2024.

In June 2024, Honda is offering a 50% discount on registration fees for the G and L 2WD versions of the CR-V. This promotion allows customers to save between 55 and 58 million VND, depending on the version.

The Honda CR-V currently has one of the highest price tags in the segment, ranging from 1.109 to 1.31 billion VND. In return, the car offers a sportier design and more modern convenience and safety features than its predecessor.

Additionally, the Honda CR-V is one of the few models in the C-segment SUV market in Vietnam to offer a hybrid engine option, along with the Haval H6. Specifically, the hybrid version of the CR-V is equipped with a 2.0L 4-cylinder gasoline engine that produces 146 horsepower. The engine is combined with two electric motors with a total output of 181 horsepower. Together, they deliver a total system output of 204 horsepower and 335 Nm of torque.

Meanwhile, the gasoline-only version of the CR-V is powered by a 1.5L 4-cylinder turbocharged engine that generates 188 horsepower and 240 Nm of torque, unchanged from the previous model. This engine is paired with a continuously variable automatic transmission (CVT) and either front-wheel drive or all-wheel drive.

Kia Sportage: 195 units

Ranking fifth in the C-segment SUV market in terms of sales is the Kia Sportage. This model sold 195 units in May 2024, an 8% decrease.

Since its launch in the Vietnamese market, the Kia Sportage has not achieved high sales figures. This can be partly attributed to its unique exterior design, which may not appeal to all customers, and its initially high price.

The Kia Sportage is currently available in Vietnam with eight versions, and its price ranges from 779 to 999 million VND. Additionally, it offers the same three engine options as its sibling, the Hyundai Tucson.

Mitsubishi Outlander: 139 units

While the Honda CR-V experienced the highest sales decline in the C-segment SUV market, the Mitsubishi Outlander showed the opposite trend. With 139 units sold in May, it achieved a remarkable 124% growth rate, the highest in the segment. However, the Mitsubishi Outlander’s sales volume remains modest, keeping it in the last position within the segment.

In June 2024, Mitsubishi is offering promotions for its models, including the Outlander. Accordingly, the Mitsubishi Outlander benefits from a 50% discount on registration fees, one year of physical damage insurance, and a 360-degree camera worth 20 million VND for both versions.

However, at dealerships, this C-SUV model is offered with even more attractive discounts. After applying these discounts, the price of the Outlander at dealerships is only around 730 million VND for the 2.0 CVT standard version and less than 810 million VND for the 2.0 CVT Premium high-end version. These promotional programs from both the manufacturer and dealerships are expected to boost the model’s sales performance in June 2024.

The Mitsubishi Outlander has not received any significant updates in terms of design or features for a long time. Additionally, its convenience and safety features lag behind those of its competitors in the same segment.

The “heart” of the Mitsubishi Outlander is a 2.0L MIVEC 4-cylinder gasoline engine that delivers 145 horsepower and 196 Nm of torque, paired with a CVT transmission.