“Toyota Camry: Can It Maintain Segment Dominance at 1.22 Billion VND?”

Toyota Camry has been officially launched in Vietnam following its debut at the VMS 2024 auto show, with prices starting at VND 1.22 billion and going up to VND 1.53 billion for three different trim levels. These prices are in line with the estimated range that Toyota Vietnam had mentioned at the VMS 2024 back in October.

Still the Priciest Sedan in its Class

Compared to its predecessor, the new Toyota Camry in Vietnam has seen a significant price increase. The previous generation Camry was priced between VND 1.07-1.46 billion, while the new model ranges from VND 1.22-1.53 billion.

In this latest generation, Toyota has streamlined the number of trim levels to three, two of which are equipped with hybrid powertrains that combine a 2.5L gasoline engine with an electric motor. The sole gasoline-only option is powered by a 2.0L engine.

These price points solidify the Toyota Camry’s position as one of the most expensive vehicles in the midsize sedan segment, whether considering traditional gasoline-powered or electric vehicles.

In the traditional gasoline-powered category, the Camry’s competitors include the Mazda6 (VND 769-899 million), Kia K5 (VND 859-999 million), and Honda Accord (VND 1.319 billion). The MG7, a new entrant in this segment, offers three trim levels priced at VND 738 million, 898 million, and VND 1.018 billion, respectively.

When it comes to electric vehicles in the midsize sedan class, the BYD Seal is the only option currently available, with two trim levels priced at VND 1.119 billion and VND 1.359 billion, respectively. Another Chinese electric sedan, the GAC Aion ES, with dimensions similar to those of a midsize sedan, is priced at VND 788 million.

Still the “King” of its Segment

According to a report from the Vietnam Automobile Manufacturers’ Association (VAMA), the Toyota Camry unexpectedly became the second slowest-selling model in the midsize sedan segment during November.

In the month leading up to the end of the year, Toyota sold 23 Camry sedans, just ahead of the Honda Accord, which sold 10 units during the same period.

The Mazda6 led the segment with 75 units sold to Vietnamese customers in November, followed by the Kia K5 with 36 units.

The decline in Camry’s sales performance is likely due to the transition period between the old and new generations, during which dealerships were running out of the previous model, and customers were willing to wait for the new one.

Despite halving its sales in November, the Toyota Camry remains the best-selling midsize sedan in Vietnam. Year-to-date sales of the Camry stand at 1,061 units, outperforming all its competitors in the segment combined.

In the first 11 months of the year, Mazda6 sold 558 units, Kia K5 sold 280 units, and Honda Accord sold 79 units, totaling 917 units for these three models combined.

Toyota Camry’s dominance in this segment is likely to continue. While midsize sedans may not be as popular in Vietnam as they once were, the Camry’s position within this segment remains unchallenged.

Toyota Vietnam has announced an extended warranty for the new Camry, offering five years or 150,000 km, whichever comes first. The warranty for the hybrid models’ batteries has also been increased to seven years or 150,000 km. Additionally, customers will receive a 10% discount on Toyota insurance.

Following the end of November, both the Mazda6 and Kia K5 are no longer eligible for the government’s 50% reduction in registration fees. In December, Kia is offering the highest discount of VND 32 million on the GT-Line trim of the K5, while Mazda has not announced any promotions for the Mazda6.

The Honda Accord continues to be one of the most heavily discounted vehicles in the Vietnamese market, with a cash incentive of VND 250 million offered in December, bringing the price down from VND 1.319 billion to VND 1.069 billion.

Throughout the year, Honda has consistently offered cash incentives for the Accord to boost its sales. However, after 11 months, the Accord remains at the bottom of the sales chart for this segment, indicating that a different strategy may be needed to improve its performance.

You may also like

Lightning-Fast Luxury: Unveiling the 2026 Cadillac Lyriq-V.

The latest electric crossover from Cadillac boasts an impressive 0-60 mph time of around 3.3 seconds in Velocity mode.

The Ultimate Showdown: Toyota Yaris Cross vs. Mitsubishi Xforce

The unexpected stumble of the Toyota Yaris Cross in November sealed the fate of the B-segment SUV sales race.

The Vietnamese Auto Market Heats Up in the Last Month of Reduced Registration Fees

The final month of the registration fee waiver saw a surge in car consumption among Vietnamese, marking the highest peak since the beginning of the year.

Sedan Segment D Sales for December 2024: Toyota Camry Regains the Crown

December 2024 marks the arrival of the new generation of Toyota Camry in Vietnam.

The GWM Wey 80: Anticipated Vietnam Launch in Late Q1 with an Estimated Price of 2.5 Billion VND

“Kicking off” 2025, GWM is expected to introduce the Wey 80 MPV to the Vietnamese market.