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February saw a positive turn for the automotive market, with a surprising growth in sales despite it being a typically low season. Several segments, such as the B-segment sedans and affordable MPVs, maintained strong sales figures.
However, the low-slung car segment with a price tag of around VND 1 billion has yet to see a significant boost. The group’s sales figures have been steadily declining, and even the leading model, the Toyota Camry, couldn’t escape this downward trend.
Total sales for the group fall below 200 units
In February, the Toyota Camry sold 130 units, an almost 11% decrease compared to the previous month. This model continues to lead the D-segment sedan market, accounting for over 83% of the segment’s total sales.
The new-generation Camry, launched in October 2024, was expected to boost sales for the model, but the actual sales figures have not shown much improvement.
| Toyota Camry fails to uplift the D-segment sedan category | ||||||
| Sales figures for the VND 1-billion sedan segment in February (source: VAMA) | ||||||
| Brand | Toyota Camry | Mazda6 | Kia K5 | Honda Accord | ||
| Units Sold | 130 | 16 | 8 | 2 |
The decline in sales over the first two months of the year can likely be attributed to unstable supply issues with the new model. According to dealership sources, the 2025 Toyota Camry is currently in high demand and short supply, especially the hybrid version. Customers who placed orders between December 2024 and January 2025 had to wait at least a month to receive their vehicles.
At the time of writing, Toyota dealerships in Ho Chi Minh City have a limited stock of the new Camry, with only 1-2 units of the special edition available and no hybrid models in stock.
Meanwhile, the Mazda6 sold 16 units in February, bringing its total sales for the first two months of the year to 43 units. The Kia K5 sold only 8 units last month, a nearly 50% decrease compared to January.
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Mazda6. Photo: Vinh Phuc. |
The Honda Accord continues to be the slowest-selling sedan in the market, with only 2 units sold. Despite consistent cash incentives from the manufacturer, the Accord has struggled to regain its sales momentum as it is no longer a preferred choice among Vietnamese car buyers.
Overall, apart from the Toyota Camry, which still holds its ground against the high-riding alternatives in the same price range, the other models in this segment have failed to capture the interest of buyers, with their sales figures dropping to single digits. This segment also stands out as one of the few where more than half of the models fall into the slow-selling category.
New entrants fail to make an impact
Last year, the Vietnamese market welcomed several Chinese sedans in the D-segment. However, after many months, none of them have made a significant impression.
The BYD Seal, introduced in Vietnam in August 2024, is priced between VND 1.119-1.359 billion for its two variants. Despite positive reviews for its design and performance, the Seal has struggled to attract new customers.
Following the BYD Seal, MG launched the MG 7 sedan in Vietnam, offering three variants with competitive prices ranging from VND 738 billion to VND 1.405 billion. Even with a more familiar gasoline engine, the MG7 has failed to entice buyers.
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GAC Aion ES. |
The GAC Aion ES, once expected to rival the BYD Seal and the Toyota Camry hybrid, has also struggled to find traction with customers. According to Tri Thuc – Znews, the sole Aion dealership in Ho Chi Minh City has quietly closed its doors, leaving only one showroom in Thai Binh province.
It appears that the comfort and luxury offered by these sedans in the VND 1-billion price range are not enough to compete with the rising popularity of high-riding vehicles. As consumer preferences shift, buyers are increasingly opting for vehicles with higher ground clearance and spacious interiors that can navigate diverse road conditions.
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