The Power Purchase of Affordable MPVs: Xpander Outpaces its Rivals

The all-new Hyundai Stargazer X. Photo by TC Group.

According to the latest report from the Vietnam Automobile Manufacturers’ Association (VAMA), the Vietnamese automobile market sold 24,350 vehicles in April, an 11% decrease compared to the previous month. The affordable MVP group sold a total of 3,024 vehicles, equivalent to a 20.3% decrease compared to March.

Best-selling group sees a decrease in sales

VAMA’s data shows that the segment’s purchasing power in the first month of the second quarter significantly “cooled down” compared to March. This is due to the decline in sales of popular models such as the Mitsubishi Xpander, Toyota Veloz, and Suzuki XL7.

Mitsubishi Xpander continues to dominate the affordable MPV segment despite a sales decrease. With a total of 1,263 units sold in April, the “MPV king” experienced a 20.1% decline compared to the previous month. This figure is also lower than the sales performance in January (1,285 units). However, with an average daily sales of 42 units, the Xpander remains the top-selling MPV and one of the most popular models in Vietnam.

In the first four months of the year, Mitsubishi Vietnam sold a total of 4,771 Xpander units, capturing over 41.2% market share in the segment.

The Toyota Veloz also witnessed a sales decline in April, selling 525 units, a 7.7% decrease compared to March (569 units). However, this still marks a significant recovery from the pre-Tet holiday period, when sales of this MPV hovered below 260 units per month.

Toyota Veloz and Toyota Avanza. Photo by TMV.

In the first four months of the year, the Veloz Cross temporarily surpassed the Honda BR-V and Kia Carens, becoming the third best-selling MPV in the market with 1,493 units sold.

Suzuki XL7 sold 391 units in April, a 42.2% decrease compared to March. This model also recorded the highest sales decline in the affordable MPV segment.

In the last month of the first quarter, the XL7 impressively “turned the tables” by selling 677 units, a threefold increase compared to the first two months of the year. As of the end of April, Suzuki has sold a total of 1,737 XL7 units, surpassing other popular models to become the second best-selling MPV in the market.

At the end of April, TC Group launched the Hyundai Stargazer X, replacing the previous-generation Stargazer in Vietnam. The predecessor model quickly sold out at all Hyundai dealerships, while the new Stargazer X will be delivered to customers starting in May. Therefore, the Stargazer X has not recorded any sales in the past two months.

Honda BR-V, Suzuki Ertiga Hybrid, and Kia Carens surprise with positive growth

Contrary to the stagnant performance of the overall market and the MPV segment, the Kia Carens, Honda BR-V, and Suzuki Ertiga Hybrid surprisingly recorded positive growth.

Kia Carens sold 349 units in April, a 5.1% increase compared to the previous month. This is also the best sales performance for this MPV so far this year. In the first four months, Kia Carens recorded 1,186 units sold, temporarily ranking fourth in the segment’s sales ranking.

Honda BR-V also gained momentum in April, selling 321 units, an 18% increase compared to March. If it continues to maintain this sales performance, the BR-V is likely to surpass the Toyota Veloz and Kia Carens to become the second best-selling MPV in the segment this quarter.

Honda BR-V. Photo by Bối Hạ.

After an impressive “turnaround” at the beginning of the year, the Suzuki Ertiga Hybrid saw a decline in sales to 167 units in the last month of the first quarter. However, in April, the sales performance of this MPV unexpectedly increased to 203 units, a 21.5% growth.

Looking back at last year, the Ertiga Hybrid’s sales performance was consistently below 100 units per month. Notably, during periods of market downturns, such as the second quarter of 2023, the monthly sales of the Ertiga Hybrid failed to cross the 50-unit mark.

The development of the Ertiga Hybrid, although slow, still reflects the changing trends in automobile preferences among Vietnamese consumers. This proves that the green automotive industry, including electric, hybrid, and plug-in hybrid vehicles, is gradually gaining a foothold in the hearts of local consumers.

The decrease in MPV sales in April could be an indication that consumers are awaiting the government’s upcoming promotion on registration fees in the second quarter. If this incentive program is implemented, the market and MPV segment are likely to experience a positive recovery after a period of fluctuations at the beginning of the year.

You may also like

Toyota Vios – The Prime Choice for Car Buyers Until 31/12/2023

Toyota Vios not only impresses with its outstanding improvements, but also gains an advantage from now until December 31, 2023 thanks to 100% support for registration fees and a 1-year Toyota body insurance golden package.

Top 10 Best-Selling Cars in Vietnam 2023: Mitsubishi Xpander Holds the Crown

In 2023, Mitsubishi Xpander made history by becoming the best-selling car since its entry into the Vietnamese market, with nearly 20,000 units sold.

Early Bird Car Deposit Wave for Double Benefits

The business situation at many car dealerships is showing promising signs as deposit amounts have increased slightly ahead of the implementation of the preferential upfront fee policy.

Vietnam’s car market continues to decline, but electric cars still sell the best.

Despite a decrease in sales compared to the previous reporting period, the Vietnamese automobile market is still showing some promising signs leading up to the implementation of the preferential policy on registration fees.