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According to a report from the Vietnam Automobile Manufacturers’ Association (VAMA), the D-segment sedans witnessed an unexpected slump in May despite significant price reductions of up to tens of millions of dong on several models. The segment managed to sell only 256 units, a 15.5% decrease compared to the previous month.
Even the Toyota Camry, the Segment Leader, Experienced a Decline
After two consecutive months of sales growth, the Toyota Camry couldn’t escape the market downturn. The Japanese automaker sold 239 units of the Camry, a 10% decrease compared to the previous reporting period.
Nonetheless, it remains the segment leader, capturing over 93% of the market share in the D-segment sedans. As of the end of May, Camry has sold a total of 940 units, almost single-handedly carrying the entire segment.
| Toyota Camry accounts for the majority of D-segment sedan sales | ||||
| D-segment Sedan Sales in May (Data Source: VAMA) | ||||
| Brand | Toyota Camry | Kia K5 | Mazda6 | Honda Accord |
| Units Sold | 239 | 17 | 0 | 0 |
However, this sales figure is not exceptionally low considering the vehicle’s price point, which exceeds one billion dong. It is challenging for the Camry to achieve monthly sales figures comparable to those of popular SUVs and MPVs in the market, ranging from 500 to 1,000 units.
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The new Camry with design and engine updates has not resulted in a significant sales boost. Photo: Phúc Hậu. |
Even during its heyday in 2019, the average monthly sales of the D-segment leader stood at approximately 452 units.
Meanwhile, the Kia K5 recorded sales of 17 units in May, bringing its total sales for the first half of the year to 98 units. This figure represents a nearly 50% decrease compared to the previous reporting period.
Mazda6 Sales Hit Rock Bottom
Notably, this is the first time in the past two years that Mazda Vietnam has failed to sell a single unit of the Mazda6 in a month. Once a strong competitor to the Toyota Camry, the Mazda6 has consistently witnessed declining sales since the beginning of the year.
As the trend of purchasing sedans continues to wane, the Mazda6 also faces an uphill battle against the popularity of crossovers and SUVs within the same price range. The lack of significant updates or new versions has further narrowed its appeal to potential customers.
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Mazda6 sales have hit rock bottom, with zero units sold in May 2023. Photo: Huỳnh Vũ. |
It comes as no surprise that Accord failed to record any sales, as it has struggled to perform well in the market for the past 2-3 years.
With a price point that is among the highest in the segment, second only to the Camry HEV, it is understandable that the Accord struggles to attract new customers, despite generous cash incentives of hundreds of millions of dong.
Additionally, the lack of timely design and technology upgrades has caused the Accord to fall behind its competitors in the same segment.
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