Small Cars – Where Korean Cars Outshine Japanese Ones

In the Vietnamese market, the A-segment remains a rare arena where South Korean automobiles hold a sales advantage over their Japanese competitors.

South Korean Cars Outselling Japanese Rivals

According to reports released by the Vietnam Automobile Manufacturers’ Association (VAMA) and TC Motor, the Kia Sonet, alongside the Hyundai Grand i10, continues to dominate sales in the A-segment SUV market in Vietnam.

With 1,063 units sold to Vietnamese customers, the Kia Sonet cemented its position as the best-selling A-segment SUV for the month leading up to the year’s end. The Hyundai Grand i10 maintained its popularity as the most favored A-segment car, recording sales of 1,035 units.

Trailing closely behind the Kia Sonet in the SUV A-segment are the Hyundai Venue and Toyota Raize, with respective sales figures of 690 and 561 units.

In the group of A-segment cars, the Toyota Wigo witnessed a sales figure of 307 units in November, while the Kia Morning experienced a slight uptick in sales, reaching 95 units.

Overall, the A-segment in Vietnam is a unique space where South Korean automobiles outperform their Japanese counterparts in terms of both the number of models available and sales figures reported periodically.

Over the course of 11 months, the Kia Sonet emerged as the top-selling SUV in the A-segment, with cumulative sales of 6,864 units. The Hyundai Grand i10, with sales of 5,080 units, has also established a significant lead over its rival, the Toyota Wigo.

The A-segment cars are gradually losing market share to adjacent segments, and even facing dominance from representatives of the A-segment SUV category.

Since the beginning of the year, the Toyota Raize and Hyundai Venue have sold 4,227 and 3,899 units, respectively. During the same period, the Toyota Wigo attained sales of 2,407 units, while the Kia Morning’s cumulative sales remained modest at 732 units.

Price Isn’t the Determining Factor

In the budget-friendly group, price doesn’t seem to be the decisive factor influencing the success of individual models in Vietnam.

When the Kia Sonet introduced its upgraded version with a new price range of VND 539-624 million, which is among the highest in its segment, its sales figures took a dip for two consecutive months following the launch. The Sonet’s sales even plummeted to nearly its lowest point in August, with only 430 units sold.

The waiver on registration fees for domestically assembled cars, which was implemented from September through November, played a significant role in the Kia Sonet’s remarkable recovery in sales.

The November sales figure of 1,063 units not only solidified the Kia Sonet’s leadership in its segment but also marked the highest monthly sales for the SUV thus far this year.

Kia Sonet remains the top-selling model despite a significant price increase. Photo: Thaco

Within the same segment, the Toyota Raize (starting at VND 498 million) and the Hyundai Venue, priced at VND 499-539 million, trail behind the Kia Sonet in terms of sales. Thus, the Sonet, as the most expensive A-segment SUV in the market, also boasts the highest sales figures.

A similar trend can be observed in the A-segment car category. The Hyundai Grand i10, leading the pack with six versions across two variants and priced from VND 360 million to VND 455 million, commands the highest price range in its segment.

Toyota Wigo, which returned to the Vietnamese market in June 2023, offers two versions priced at VND 360 million and VND 405 million, respectively. Meanwhile, the Kia Morning, with sales lagging behind its competitors, is currently available in Vietnam with six versions and a price range of VND 349-424 million.

VinFast VF 5 and Wuling Bingo offer electric options in the A-segment.

The recently launched Wuling Bingo, positioned as an SUV/hatchback in the A-segment, has also garnered significant attention from Vietnamese customers due to its compact design, diverse engine options, and attractive pricing.

The Wuling-branded electric vehicle will be available in a total of four versions, with the first three hatchback versions priced at VND 349 million, VND 399 million, and VND 469 million, respectively. The SUV variant of the Wuling Bingo is the most expensive, retailing at VND 569 million.

However, the challenge for the Wuling Bingo, and Wuling-branded electric vehicles in general, remains the issue of vehicle charging. This limitation could potentially hinder the success of the Wuling Bingo, despite its competitive pricing.

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