Has the Race Between the Toyota Vios and Hyundai Accent Come to an End?

The Race Between Toyota Vios and Hyundai Accent

Toyota Vios and Hyundai Accent are two well-known names in Vietnam, constantly competing in the B-segment sedan market. This year, the race between these two sedan giants is expected to intensify with the launch of the new-generation Hyundai Accent.

Long-standing Rivals

Since 2003, Toyota Vios has been a leading player in the Vietnamese market. However, in 2018, TC Group introduced the Hyundai Accent to Vietnam, sparking a head-to-head competition that has lasted for six consecutive years.

The sales results of the last three years for both models have shown fluctuations, with each model taking turns to be the best-selling sedan in the segment.

Both the Toyota Vios and Hyundai Accent are popular sedan models in the market. Photo: Minh Quân.

In 2021, Hyundai Accent took the lead by selling 17,439 units, becoming the best-selling B-segment sedan in the market and one of the top-selling cars overall. Meanwhile, Toyota Vios sold 17,133 units, taking second place.

In 2022, the tables turned again as Toyota Vios regained its top position with sales of 20,765 units, while Hyundai Accent sold 19,716 units, a significant increase but not enough to reclaim the lead.

In 2022, Hyundai Accent dropped to third place in the overall market due to the strong performance of the Mitsubishi Xpander.

Last year, the entire market experienced a significant decline in sales due to economic fluctuations, and Toyota Vios and Hyundai Accent were no exceptions. Changing consumer preferences for higher-riding vehicles also impacted the sales of these two sedan powerhouses.

The Never-Ending Race Between Toyota Vios and Hyundai Accent
Sales figures for Toyota Vios and Hyundai Accent from 2021 to 2023 (Source: TC Group, VAMA)
Brand	2021	2022	2023
Toyota Vios	17,133	20,765	13,521
Hyundai Accent	17,439	19,716	17,452

In 2023, Toyota Vios sold 13,521 units, dropping out of the top 3 best-selling cars in the market. Hyundai Accent maintained its second position but also experienced a slight decline in sales, selling 17,452 units.

At the beginning of this year, both models continued to see a decrease in sales, failing to reach the 1,000 units/month mark. In February, Accent’s sales dropped to 365 units, a 60% decrease, while Vios sold only 170 units. In the first four months of this year, Toyota Vios sold 2,680 units, while Hyundai Accent sold 3,096 units.

Hyundai Accent Launches a New Model, Toyota Vios Responds with Price Cuts

The competition from higher-riding vehicles in the same price range, such as B-SUVs and affordable MPVs, has impacted the sales of Toyota Vios and Hyundai Accent. To regain market share, manufacturers have had to make adjustments.

Last year, Toyota introduced the 2023 Vios, but it didn’t offer significant changes as it was a mid-cycle refresh with a similar design to the previous model.

This year, Toyota Vietnam has focused on price adjustments and promotions to attract customers. They recently announced price adjustments for the Toyota Vios, making it more affordable for buyers. After the adjustment, the prices of the Vios 1.5 E-MT, 1.5 E-CVT, and 1.5 G versions are now 458, 488, and 545 million VND, respectively, representing a reduction of 21-47 million VND.

Additionally, customers purchasing the Toyota Vios during this period can also receive additional discounts of 10-15 million VND from dealerships, which is taken from the employee and dealer bonus pool.

The previous-generation Hyundai Accent also offers a 50% discount on registration fees during May, resulting in savings of around 23-27.5 million VND depending on the version.

While Toyota Vietnam focuses on price adjustments, TC Group has introduced a new generation of the Accent to attract new customers.

On May 30, the 2024 Hyundai Accent was launched, featuring four trim levels similar to its predecessor. With a starting price of 539 million VND, it offers a more competitive package compared to the Toyota Vios (458-545 million VND).

The new Accent sports a more dynamic design with sleek LED daytime running lights at the front and rear. It is powered by a 1.5L SmartStream G engine that produces 115 horsepower and 144 Nm of torque, an increase of 15 horsepower and 12 Nm over the previous generation. The power is transmitted to the wheels through a 6-speed manual or iVT automatic transmission.

As the economy recovers, and with the strong sales performance of affordable high-riding vehicles in the same price range, it seems that price cuts alone may not be enough for Toyota Vios to reclaim its former top position. Unless Toyota introduces a more significant upgrade, it may struggle to maintain its market share against the Hyundai Accent and the consistently well-selling Honda City.