The Toyota Yaris Cross: A Valiant Effort Falls Short of the Mitsubishi Xforce

The Toyota Yaris Cross leads the pack in April sales. Photo courtesy of TMV.

In the current Vietnamese auto market, the B/B+ SUV segment in the price range of VND 600-800 million is considered one of the hottest segments, with a total of eight models competing for dominance. While the overall Vietnamese auto market experienced a slight dip in sales during April, the collective sales of vehicles in this segment also witnessed a minor decline.

Toyota Yaris Cross’ Strong Performance

In April, the combined sales of the Toyota Yaris Cross, Mitsubishi Xforce, Hyundai Creta, Kia Seltos, Honda HR-V, Mazda CX-3, Mazda CX-30, and Toyota Corolla Cross totaled 3,281 units, representing a decrease of over 21% compared to the previous reporting period.

The Toyota Yaris Cross took the top spot in the urban SUV segment, with sales of 882 units in the first month of the second quarter, reflecting an impressive increase of nearly 26% from the previous reporting period.

Meanwhile, the Mitsubishi Xforce experienced a significant drop of nearly 40% in sales during its second month on the Vietnamese market, recording 806 deliveries to local customers.

The Toyota Corolla Cross and Honda HR-V experienced the sharpest decline in sales during the month. Honda HR-V’s sales dropped by over 67%, while the Toyota Corolla Cross witnessed a staggering 82% decrease in sales just before the launch of the next generation model in Vietnam.

Specifically, Honda HR-V’s sales for April stood at 248 units, while Toyota managed to sell only 14 units of the Corolla Cross, including two hybrid variants.

The Hyundai Creta and Kia Seltos maintained their strong presence in the segment, with the Creta recording sales of 506 units and the newly launched Seltos achieving sales of 473 units in the Vietnamese market.

The Mazda CX-3 and CX-30 duo posted identical sales figures of 176 units each for the month. Their position in the Vietnamese market remains largely unchanged, as these models consistently deliver unremarkable sales performances.

Mitsubishi Xforce Remains a Contender

Despite a nearly 40% drop in sales, Mitsubishi Xforce’s performance of 806 units sold in April solidified its position as the best-selling B-segment SUV so far this year. Even as a newcomer with just two months in the market, the Xforce has already amassed sales of 2,140 units, establishing a 50-unit lead over its Japanese rival, the Honda HR-V, which has sold 2,090 units.

The Mitsubishi Xforce emerges as the top-selling B-segment SUV in Vietnam. Photo: Vinh Phuc.

The Toyota Yaris Cross rounds out the list of the top three B/B+ SUVs with sales exceeding 2,000 units in the first four months of 2024. The Hyundai Creta and Kia Seltos closely follow, with sales of 1,706 and 1,539 units, respectively.

The Toyota Corolla Cross finds itself in an unusual position at the bottom of the sales chart for this segment. Since the beginning of the year, this Thai-imported model has managed modest sales of 371 units, averaging less than 100 units per month.

However, the Toyota Corolla Cross is expected to regain its momentum with the launch of the new generation model in Vietnam. The latest iteration of the Corolla Cross will be offered in two variants, with suggested retail prices of VND 820 million for the 1.8V version and VND 905 million for the 1.8HEV version.

Upcoming New Entrants

Overall, the urban SUV segment for the remainder of 2024 is likely to remain a contest among Japanese brands such as the Mitsubishi Xforce, Toyota Yaris Cross, and to some extent, the Honda HR-V.

Korean contenders like the Hyundai Creta and Kia Seltos could play spoilsports at certain intervals, but their current sales figures seem insufficient to sustain a long-term challenge for the top spots.

The B-segment SUV market in the VND 600-800 million price range remains a notable hotspot in the Vietnamese auto industry, not only due to the large number of competing models but also because automakers have been consistently introducing new variants, adjusting prices, and offering promotions to enhance their competitiveness.

The all-electric BYD Atto 3 will be an exciting addition to the B/B+ urban SUV segment in Vietnam. Photo: BYD.

In the latter part of 2024, the segment is expected to welcome the BYD Atto 3, an urban electric B+ SUV from the world’s largest green car brand. In Thailand, the BYD Atto 3 is priced from 1,099,000 baht (approximately VND 742 million). Rumors suggest that when introduced in Vietnam, the BYD Atto 3 could be priced at around VND 700 million.

Subsequently, Chery is likely to bring the Omoda C5 to Vietnam, positioning it as a competitor in the urban SUV segment. This model was previously showcased in Vietnam during a test drive event earlier this year.

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