The Big Sale: Reviving the Affordable Sedans

The Vietnamese auto market witnessed a significant dip in sales during the first month of the year, with a 40% decline attributed mainly to the restrained spending behavior of Vietnamese customers during the Tet holiday season.

According to data from the Vietnam Automobile Manufacturers’ Association (VAMA), the total market sales for January reached 18,893 vehicles of various types. Among these, the B-segment sedans recorded a combined sales figure of 1,980 units, reflecting a 56% decrease compared to the previous month.

A Sea of Red

Out of the six B-segment sedans still available in Vietnam, only the Honda City managed to buck the trend and post positive sales growth.

The remaining models, including the Mazda2, Mitsubishi Attrage, Kia Soluto, and the usually top-selling Toyota Vios and Hyundai Accent, all experienced a decline in sales compared to the previous month.

If green indicates sales growth and red signifies a decrease in sales compared to the previous reporting period, it can be said that the B-segment sedan market in the first month of 2025 was awash with red.

Toyota Vios and Hyundai Accent, the usual top contenders, posted sales figures of 530 and 490 units, respectively, for the month. This downturn indirectly propelled the Honda City to the top-selling position in the segment, with sales increasing to 568 units.

In the remaining group, the Mazda2 started the year with 313 units sold, while the Mitsubishi Attrage and Kia Soluto trailed with sales of 61 and 18 units, respectively, for the same period.

Compared to the 4,550 units sold in the B-segment during the last reporting period of 2024, the group of affordable sedans witnessed a sales decline of over 56%. The combined sales of the six models for the first month of 2025 totaled 1,980 units, with the Honda City leading the pack.

Awaiting a Boost from Promotions

It is worth noting that such unfavorable sales trends during the Tet holiday season are not uncommon in the Vietnamese auto market. Last year, the country’s auto industry experienced a similar lull in demand during the reporting period for the Lunar New Year.

Following this period of subdued demand, automakers often take proactive measures by launching promotional campaigns and offering discounts to stimulate sales and boost the market.

Honda, for instance, frequently offers support for registration fees as a form of incentive for Vietnamese customers. Throughout February, the Japanese automaker continued to provide a 50% discount on registration fees for purchases of the Honda City.

With a price range of VND 499-569 million, the promotion for the B-segment sedan translates to a savings of VND 25-28.5 million. Customers who purchase the Honda City during this period also receive an additional year of body insurance.

Toyota, employing a similar strategy, is offering a 50% discount on registration fees for the “former king” Toyota Vios, which is expected to regain its growth trajectory after a more than 71% decline in sales in the first month. This incentive equates to a savings of VND 23-27 million, depending on the version. The Toyota Vios is currently priced at VND 458-545 million.

Hyundai Accent, along with other models of the same brand, is being promoted with a direct discount of up to VND 45 million, coupled with an 8-year or 120,000 km warranty. However, TC Motor’s promotional program for Hyundai vehicles only applies to models manufactured in 2024.

All four versions of the Hyundai Accent are locally assembled and currently priced between VND 439-569 million.

Mitsubishi Attrage is offering a 50% discount on registration fees, along with fuel vouchers and a shark fin antenna for automatic transmission versions during February. This promotion translates to a savings of VND 43 million for the Attrage CVT and VND 46 million for the CVT Premium version.

For the manual transmission version of the B-segment sedan imported from Thailand, only fuel vouchers and a rearview camera are offered, totaling VND 10.5 million in promotional value.

Thaco, the distributor of Kia Soluto, is providing promotions ranging from VND 5-27 million for the three versions of the model. The Kia Soluto is currently priced between VND 386 million and VND 439 million.

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