The Worst-Selling Cars in Vietnam: Is the Honda Accord Doomed?

The end of the Vietnamese government’s policy of subsidizing 50% of registration fees for domestically produced and assembled cars has had a significant impact on the country’s automotive market since December 2024.

According to the Vietnam Automobile Manufacturers’ Association (VAMA), Vietnamese consumers purchased 31,598 vehicles in December 2024, a 28.5% decrease compared to the same period last year. Meanwhile, TC Group sold 8,316 Hyundai cars to Vietnamese customers, a 19.3% drop from the previous month.

Additionally, the list of the 10 worst-selling cars in Vietnam in December 2024 saw some changes compared to the previous month, as detailed below:

As the table shows, the Honda Accord remained the worst-selling car in the Vietnamese market in the final month of 2024. With 12 units sold, the Accord experienced a 20% growth rate compared to the previous month. In December 2024, Honda increased the cash incentive for the Accord to VND 250 million, up from VND 220 million in previous months. However, the Honda Accord continues to struggle in the market.

The poor sales performance of the Honda Accord in Vietnam is not a new phenomenon. The high price tag of VND 1.319 billion, along with the availability of only one version that hasn’t been upgraded in a while, and the decline of the mid-size sedan segment, have made this model very selective in its appeal.

Honda Accord continues to struggle in December 2024.

In second place is the Kia K5, a direct competitor to the Honda Accord in the same segment. This further highlights the challenges faced by the D-segment sedans in the Vietnamese market. During December 2024, Kia sold 21 units of the K5, a decrease of 41.6%.

Following closely is the Toyota Land Cruiser Prado, with sales of 22 units, reflecting a significant drop of 69.4%. This low sales figure for the Land Cruiser Prado is not surprising, given its high price point starting from VND 3.46 billion, which makes it inaccessible to the majority of buyers. As of January 2025, the model has seen a further price increase to VND 3.5 billion.

In fourth place is another Toyota model, the Innova. This mid-size MPV recorded a modest sales figure of 25 units, representing a sharp decline of 83.4%. Several factors have influenced the Innova’s sales performance, including unattractive pricing, ranging from VND 755 million to VND 995 million, and a lack of design and feature upgrades for quite some time. Additionally, the Innova faces intense competition from the small MPV segment.

The fifth position goes to the Toyota Alphard, another high-end MPV often referred to as the “luxury airliner.” With 29 units sold, the Alphard experienced a growth rate of 61.1%. Similar to the Land Cruiser Prado, the Alphard targets a niche market due to its high price, starting from VND 4.37 billion. However, as of January 2025, the model’s listed price has increased by VND 149 million, now ranging from VND 4.51 billion to VND 4.635 billion.

Isuzu mu-X, a familiar name in the mid-size SUV segment, is the next model on the list of the 10 worst-selling cars in Vietnam for December 2024. The Isuzu mu-X recorded stagnant sales, with only 32 units sold, unchanged from the previous month. Its Achilles’ heel lies in its unappealing design and features.

Ranking seventh in the top 10 is the Toyota Corolla Altis, the fourth Toyota model on this list. Sales of this C-segment sedan decreased by 7.6% to 36 units. This is not the first time the Toyota Corolla Altis has appeared in the list of worst-selling cars in Vietnam, indicating a downward trend for this Japanese model.

In eighth place is the Kia Morning, with a sales figure of just 39 units. While consistently ranking last in the A-segment for sales, the Morning rarely makes it into the top 10 worst-selling cars in the market. Its sales dropped by 58.9% to only 39 units.

In ninth place is the Suzuki Jimny, with 44 units sold, reflecting a modest growth rate of 7.3%. Despite the positive growth, the Jimny’s sales remain modest. Dubbed the “mini Mercedes-Benz G-Class,” this SUV carries a high price tag starting from VND 789 million, but its size, comfort features, and safety specifications fall short of expectations. Additionally, the Suzuki Jimny is imported from Japan in limited quantities.

Rounding out the top 10 is the Kia Soluto, a B-segment sedan. With a sales figure of 49 units in December 2024, the Soluto experienced a significant drop of 53.7%. Despite its competitive pricing, ranging from VND 386 million to VND 482 million, the Soluto faces challenges due to its inferior design and features when compared to its competitors in the same segment.