The Vietnamese automotive market showed positive signs of recovery in September 2024, attributed to the end of the Lunar July holiday and the government’s policy of reducing registration fees for domestically produced and assembled vehicles.
According to the Vietnam Automobile Manufacturers’ Association (VAMA), the total market sales volume reached 36,585 units in September 2024, a 45.2% increase. This figure includes 28,973 passenger cars, 7,367 commercial vehicles, and 245 specialized vehicles. When including the sales figures of Hyundai Thanh Cong, the total volume rises to 43,103 units.
Additionally, the sales volume of domestically assembled vehicles reached 19,500 units, a 62% increase compared to the previous month. Meanwhile, the sales volume of completely built-up imported vehicles was 17,085 units, a 30% increase from the previous month.
While the market is gradually recovering, some car models continue to be overlooked by domestic customers, as evidenced by the following ten models.
| Ranking | Model | Sept 2024 Sales | Aug 2024 Sales | Growth Rate |
| —— | —– | ————– | ————- | ———– |
| 1 | Honda Civic Type R | 1 | 3 | -66.6% |
| 2 | Honda Accord | 8 | 3 | +166.6% |
| 3 | Toyota Alphard | 13 | 9 | +44.4% |
| 4 | Honda Civic | 16 | 21 | -23.8% |
| 5 | Kia K5 | 20 | 14 | +42.8% |
| 6 | Isuzu mu-X | 36 | 20 | +80% |
| 7 | Toyota Corolla Altis | 37 | 33 | +12.1% |
| 8 | Toyota Innova | 38 | 46 | -17.3% |
| 9 | Kia Soluto | 44 | 19 | +131.5% |
| 10 | Ford Explorer | 51 | 33 | +54.4% |
The list of the ten worst-selling car models in the Vietnamese market in September 2024 includes some new entries, while the rest are familiar models.
The Honda Civic Type R, a high-performance version of the Honda Civic, topped the list with only one unit sold. This outcome is unsurprising, as this model is only available through special orders in Vietnam, and its high price of up to VND 2.399 billion makes it inaccessible to the majority of buyers.
Following the Civic Type R is another Honda model, the Accord, with eight units sold in September 2024, a 166.6% increase. Despite this impressive growth rate, the Accord still ranks among the worst-selling cars due to its modest sales volume. Despite continuous cash incentives of up to VND 220 million offered by the brand since the beginning of the year, the D-segment sedan’s sales have remained stagnant.
In addition to its high price of up to VND 1.319 billion before discounts, the Honda Accord is only available in one version, offering limited choices for customers. Moreover, the model hasn’t received any significant upgrades in terms of design or features in quite some time. This, coupled with the overall decline of the D-segment sedan market, has impacted its sales performance.
The third worst-selling model in the Vietnamese market in September 2024 was the Toyota Alphard, with 13 units sold, a 44.4% increase. Similar to the Honda Civic Type R, the Alphard caters to a small group of customers due to its high price tag of VND 4.37 billion.
Ranking fourth, the Honda Civic experienced a 23.8% decline in sales to 16 units. This is the second consecutive month that the C-segment sedan has appeared in the top ten worst-selling cars. This outcome is expected, as the Honda Civic is anticipated to receive an upgraded version in October 2024.
Next is the Kia K5, with only 20 units sold, representing a 42.8% increase. In recent months, this South Korean model has consistently been among the worst-selling cars in the market, and September 2024 was no exception. This highlights the challenges faced by the D-segment sedan category in Vietnam.
In sixth place is the Isuzu mu-X, with 36 units sold, an 80% growth rate. Similar to the Honda Accord, the Isuzu mu-X is a long-standing member of the worst-selling cars list due to its unappealing design and less-than-desirable features.
The Toyota Corolla Altis, another C-segment sedan, joined its compatriot, the Honda Civic, in the top ten. In September 2024, only 37 units of the Toyota Corolla Altis were sold, representing a 12.1% increase.
The third Toyota model in this list is the Innova, a medium-sized MPV, which sold 38 units in September, a 17.3% decrease.
Toyota Innova replaces Suzuki XL7 in the list.
Ranking ninth, the Kia Soluto witnessed a significant growth rate of 131.5%, with 44 units sold. Despite having one of the most competitive prices in the B-segment sedan category, the Soluto lags behind popular choices such as the Toyota Vios, Hyundai Accent, and Honda City in the Vietnamese market. Its drawbacks lie in its less attractive design and features.
Rounding off the top ten worst-selling cars in the Vietnamese market for September 2024 is the Ford Explorer, a large SUV, with 51 units sold, a 54.4% increase.
In October 2024, the policy of reducing registration fees by 50% for domestically produced and assembled vehicles remains in effect. Additionally, many models are offered with attractive incentives by both manufacturers and dealers. As a result, the Vietnamese automotive market is expected to continue its growth trajectory in October.
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