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.

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.

You may also like

“Chaotic” Car Dash Cam: Unleash the Power of Safety Recording

“Wow, this is the phrase that many people exclaim after doing their research. Which is the best dash cam? Are cheap dash cams truly “cheap”? How much should one spend on a dash cam that is suitable? These are common questions when someone begins to explore and select this device.”

[CAR REVIEW] The Newly Launched BMW iX3 in Vietnam: Compact, Practical, and Expensive

As the second electric car introduced by BMW, the iX3 caters well to everyday urban usage needs. However, it will still take time to reach customers.

Which 7-seater SUV to choose within the budget of 1 billion VND?

In recent times, the 7-seater SUV market in Vietnam has been booming. This segment has caught the attention of Vietnamese customers due to its practicality and high safety standards. Below are some examples of 7-seater SUVs within the price range of 1 billion VND that are “worth every penny.”

[CAR REVIEW] Wuling Mini EV: Affordable, Compact, Convenient, but…

Even though it is only sold in its home country, China, the Wuling Mini EV has quickly surpassed the Tesla Model 3 to become the world’s best-selling electric car thanks to its affordable price and compact size. Expected to be available from late June 2023, will this model be successful in Vietnam?

The Perfect Ford Ranger 2022: The King of Pick-up Trucks

Immediately after the successful launch of the Ford Everest, the popular SUV model that caused quite a stir, Ford Ranger seizes the opportunity to update and release a completely new version. With this exciting development, it is poised to maintain its dominance in the pickup truck segment in Vietnam.