The Kia Morning is a Slow Seller: Exploring the Paradox in the Used Car Market

According to the latest report from the Vietnam Automobile Manufacturers’ Association (VAMA), the Kia Morning, with only four units sold in May, has become one of the slowest-selling vehicles in the country.

The decline in the popularity of the Kia Morning can be partly attributed to the anticipated launch of a new model. However, it is also evident that the appeal of this segment in the Vietnamese market has significantly diminished.

New Cars Are Losing Their Luster, While Used Cars Are Gaining Popularity

With a mere four units sold in May, the Kia Morning has accumulated a total of 168 units sold so far this year.

This sales performance is among the poorest in Kia’s product lineup in Vietnam, surpassing only the Kia K5 with 98 units sold and the Kia Soluto with 134 units sold during the same period.

The Kia Morning is also a consistent bottom-dweller in the sales rankings for the A-segment. In 2024, it was the only model in the affordable car segment that failed to sell more than 1,000 units to Vietnamese customers.

Despite its lackluster performance in the new car market, the Kia Morning is creating a buzz in the used car arena.

Specifically, the used car market report by Cho Tot Xe reveals that the Kia Morning is one of the four most sought-after models in April. The other names on the list include the Toyota Innova, Toyota Vios, and Toyota Camry.

Another A-segment contender that is popular among Vietnamese used car buyers is the Hyundai Grand i10. This Korean model ranks seventh on the list of most sought-after used cars in April, according to Cho Tot Xe data.

However, both the Kia Morning and the Hyundai Grand i10 face a common challenge in the used car market: supply struggles to keep up with demand. Cho Tot Xe reports that the ratio of relevant listings to search volume is a mere 8% for both the Morning and the Grand i10, indicating that buyers are eager to purchase these models, but suitable options are scarce due to a limited number of sellers.

High Buyer Interest Meets Low Seller Activity

In a conversation with Tri Thức – Znews, Mr. Đức Phúc, representative of Thiên Mộc Auto, a used car dealership in Tay Ho District, Hanoi, shared that they have not witnessed a significant influx of customers looking to sell their Kia Morning vehicles recently.

“This could be attributed to the relatively low resale value of the car, leading most owners to either retain the vehicle for personal use or sell it to acquaintances without involving intermediaries,” Mr. Đức Phúc speculated on the reasons behind the scarce supply of Kia Morning in the used car market. “Additionally, small cars like the Kia Morning are typically quite easy to sell.”

On the flip side, Mr. Đức Phúc confirmed a high level of interest from buyers for the Kia Morning at their dealership. He attributed this demand to the affordable price point of the Kia Morning and other A-segment models in the used car market, making them accessible to a wider range of buyers.

At Thiên Mộc Auto, the Kia Morning GT-Line from 2021 to 2023 is priced between 355 and 385 million VND. In contrast, the official Kia Vietnam website no longer offers the GT-Line variant. Customers can only opt for the X-Line version, which boasts similar features but carries a price tag of 424 million VND.

In the A-segment of low-riding cars, the Kia Morning stands alone as the only model that has not received any upgrades since the introduction of its new generation in 2020. In fact, the number of variants has been streamlined from four to the current two, with corresponding price tags of 349 million and 424 million VND.

The Hyundai Grand i10 received an upgrade in June 2024, maintaining two variants with a total of six versions, priced between 360 and 455 million VND.

The Toyota Wigo temporarily withdrew from the Vietnamese market but made a comeback in June 2023, boasting enhanced exterior styling and improved safety features. However, the manual transmission version of the Toyota Wigo has been discontinued, leaving customers with the sole option of the Wigo G automatic variant, priced at 405 million VND.

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