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Hyundai Grand i10 regains its lead in the segment before the launch of the upgraded version. Photo: TC Motor. |
According to the latest report released by the Vietnam Automobile Manufacturers’ Association (VAMA), the total consumption of the Vietnamese automobile market in May was 25,764 vehicles of all kinds, a 6% increase compared to the previous period.
Of this number, the passenger car group recorded 18,235 units sold, an increase equivalent to the average of the entire market.
Hyundai Grand i10 Regains the Top Spot
Amid the optimistic outlook for the Vietnamese automobile market, the A-segment also recorded a slight growth in sales compared to the previous month. Specifically, the total sales of Hyundai Grand i10, Toyota Wigo, and Kia Morning in May reached 593 units, 33 units higher than the previous period.
Among them, the Hyundai Grand i10 sold 319 units, accounting for nearly 54% of the total consumption of the entire segment. This sales performance helped the Hyundai Grand i10 regain the top spot in the segment after temporarily conceding the leading position to the Toyota Wigo in the April report.
| Hyundai Grand i10 outsells its competitors in the segment | ||||
| Sales structure of the A-segment in May (Data: VAMA, TC Motor) | ||||
| Label | Hyundai Grand i10 | Toyota Wigo | Kia Morning | |
| car | 319 | 200 | 74 |
In the same period, the Toyota Wigo recorded sales of 200 units, a decrease of 67 units compared to its performance in the April report. Meanwhile, the Kia Morning showed a slight improvement in sales, but the number also stopped at 74 units. The A-segment model of the Kia brand remains the slowest-selling name in the segment and has never achieved sales of over 100 units/month in the period from the beginning of the year to now.
Cumulatively from the beginning of the year, the Hyundai Grand i10 still shows superior sales performance with 1,889 units sold, higher than the sales performance of both the Toyota Wigo and the Kia Morning combined. The Indonesian-imported A-segment model of Toyota sold 987 units after 5 months, while the Kia Morning entered the last month of the second quarter with 320 units sold.
A Stormy Future is Predicted
The A-segment in the Vietnamese market currently lacks both the number of members and sales performance. After VinFast Fadil and Honda Brio withdrew, Toyota Wigo also temporarily halted business in Vietnam for a while, leaving the A-segment with only the presence of the Hyundai Grand i10 and Kia Morning.
When the Toyota Wigo returned in June 2023, this A-segment model was still unable to compete head-to-head with the Hyundai Grand i10, despite being upgraded with many safety features. Last year, the Hyundai Grand i10 was the best-selling low-floor A-segment car with 7,944 units sold, while the sales performance of the Toyota Wigo and Kia Morning were 1,748 units and 1,467 units, respectively.
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Toyota Wigo returns to the Vietnamese market with upgraded safety features. Photo: TMV. |
The lackluster sales performance of the affordable A-segment is believed to be partly influenced by the rise of groups of vehicles in adjacent segments. Currently, Vietnamese customers have a wide range of options in the B-segment sedans, A-SUVs, or small MPVs with prices not too different from low-floor A-segment cars but with the advantage of larger space and better equipment.
Specifically, the Kia Soluto with a price range of VND 386-449 million or the Mitsubishi Attrage (VND 380-490 million) and the Mazda2 with a starting price of VND 408 million are B-segment sedan options that are similar in price to the A-segment models in the Vietnamese market. Meanwhile, the only small MPV model equipped with a hybrid engine, the Suzuki Ertiga, is also being promoted in June, bringing the price of the car to VND 449 million for the MT version and VND 519 million for the AT version.
Moreover, the A-segment group is also facing the latest threat from the group of affordable electric vehicles, with typical names such as the Wuling Hongguang Mini EV or the VinFast VF 3.
At the beginning of May, the first sales phase of the VF 3 received up to 27,649 early booking orders. VinFast stated that all of the above orders are non-refundable or transferable, demonstrating the true appeal of this mini SUV to Vietnamese customers.
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VinFast VF 3 is the latest name to threaten the market share of the low-floor A-segment group. Photo: Hoang Linh. |
Currently, the upgraded version of the Hyundai Grand i10 has been launched in the Vietnamese market with an unchanged listed price. Overall, the car has only undergone exterior changes, while the equipment and engine remain almost the same as the current versions.
For the older versions, Hyundai is offering a 50% discount on registration fees and one year of physical damage insurance. Toyota Wigo is being offered by dealers with a VND 10 million discount on both versions, while the Kia Morning also has a VND 5-10 million discount depending on the dealer and the version chosen by the customer.
Currently, Thaco has not made any moves regarding the possibility of introducing an upgraded version for the Kia Morning. This A-segment model currently has a total of 6 versions in the Vietnamese market, with prices ranging from VND 349 million to VND 424 million.
The Toyota Wigo is imported from Indonesia and distributed in Vietnam with 2 versions, with listed prices of VND 360 million and VND 405 million, respectively. The Hyundai Grand i10, in its latest upgraded version, still has 6 versions, with prices ranging from VND 360 million to VND 455 million.
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