The Urban SUV King: Mitsubishi Xforce Reigns Supreme Despite Sales Dip

The urban SUV segment witnessed a general upswing in the second month of the registration fee promotion for domestically assembled cars in Vietnam, with almost all models reporting sales growth.

There was a shuffle at the top in October as the Toyota Yaris Cross saw a surge in sales, but the Mitsubishi Xforce is poised to reclaim the crown as the segment’s “sales king” for 2024.

A “Rosy” Month

Out of the eight models that disclosed their sales figures in the urban SUV segment, six posted sales increases for October.

Cumulative sales for the segment reached 7,534 units, with four models surpassing the 1,000-unit mark. The first report of the fourth quarter thus painted a “rosy” picture for this hotly contested segment in the Vietnamese market.

The Honda HR-V and Mitsubishi Xforce were the only models to witness a dip in sales. While the HR-V’s decline from 695 to 664 units did not cause significant upheaval, the Xforce’s drop to 1,481 units meant it had to relinquish its top spot to the Yaris Cross.

Toyota’s B-segment SUV sold 1,510 units in October, an increase of 531 units compared to the previous month. A similar surge was observed for the Toyota Corolla Cross, its larger sibling, pushing the sales of the Thai-imported B+ SUV to 1,402 units.

The Hyundai Creta secured fourth place in the segment with sales of 1,228 units, while the Kia Seltos rounded out the top five with 815 units delivered to Vietnamese customers.

The Mazda CX-3 and CX-30 continued to face challenges in the Vietnamese market, with sales of 261 and 173 units, respectively. While this represented a slight increase from September, it wasn’t enough to lift these models out of the slowest-selling category in the segment.

Newcomers Make Their Mark

Last year, the sales race in the urban SUV segment was a close contest between the Hyundai Creta and Toyota Corolla Cross, with the Korean model narrowly clinching the win in the final month.

The Toyota Corolla Cross’s slump was partly attributed to the arrival of the Toyota Yaris Cross, which went on sale in September 2023 and quickly amassed sales of 3,065 units for the year.

This year, the segment welcomed the Mitsubishi Xforce, and together with the Toyota Yaris Cross, these two newcomers are leading the pack in the B-SUV category.

The Mitsubishi Xforce and Toyota Yaris Cross are currently leading the B-SUV segment.

After ten months, the Mitsubishi Xforce leads the way with sales of 11,444 units, followed closely by the Toyota Yaris Cross, which has sold 8,408 units to Vietnamese customers. The “veterans” Hyundai Creta and Toyota Corolla Cross trail behind, with sales of 6,408 and 5,476 units, respectively.

With a gap of 3,036 units and only two months left in the year, victory seems all but assured for the Mitsubishi Xforce.

It is unlikely that the Mitsubishi Xforce will suffer a sudden downturn similar to what the Toyota Corolla Cross experienced last year, and the Toyota Yaris Cross doesn’t appear poised for a breakthrough performance in the remaining months.

Regardless of the eventual winner, the newcomers are undoubtedly making their presence felt in the urban SUV segment.

Month after month, this group of vehicles has consistently demonstrated sales growth, even though it isn’t the segment that benefits the most from the registration fee promotion. Out of the eight models disclosing sales figures, only the Hyundai Creta and Kia Seltos are domestically assembled, while the rest are imported from Indonesia or Thailand.

Incentives Fuel the Fire in a Hotly Contested Segment

Despite having fewer domestically assembled options, the notable models in the B/B+ SUV segment in Vietnam have been subject to attractive promotions and incentives offered by their respective automakers.

The current leader, the Mitsubishi Xforce, comes with a 50% registration fee support or fuel vouchers, with total benefits ranging from VND 10 million to VND 42 million, depending on the version.

Toyota’s incentive for the Yaris Cross, which takes the form of a 50% registration fee support worth VND 33-38 million for both versions, has been extended from October to November. This could be one of the reasons behind the Yaris Cross overtaking the Xforce as the best-selling B-SUV for the month.

Many imported SUVs in the B-segment are promoted with a 50% registration fee support. Image: TMV.

The Toyota Corolla Cross offers a similar incentive, but only for the gasoline version, with a value of VND 41 million. Kia Seltos provides incentives ranging from VND 30-40 million for the 1.5 Turbo line, making the starting price of the turbocharged engine versions VND 719 million.

In the case of the Hyundai Creta, a sales consultant from a Hyundai dealership in southern Vietnam shared with Tri Thức – Znews that this B-SUV model is facing a shortage. “The dealership is no longer accepting deposits for the Hyundai Creta as we already have a significant backlog of customer orders, and the supply of vehicles to the dealership is quite limited,” the consultant explained.

Initially imported from Indonesia, the Hyundai Creta transitioned to domestic assembly in April 2023. Its price was adjusted downward in March, and it now starts at VND 599 million.

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