In December 2023, the Vietnam Automobile Manufacturers’ Association (VAMA) reported that the total number of vehicles sold in the market was 38,740, an increase of 39% compared to the previous month. Out of this, the sales volume of passenger cars in December 2023 reached 32,133, representing a growth rate of 43% compared to the previous reporting period. Toyota Vios Making a Strong ComebackIn the compact sedan segment, the combined sales of Toyota Vios, Hyundai Accent, Honda City, Mitsubishi Attrage, Mazda2, Kia Soluto, and Suzuki Ciaz in December 2023 reached 8,457 cars, an increase of over 70% compared to the previous month’s sales figures. The impressive sales performance in December also marked the best sales achievement for this segment throughout the year. Among these models, Toyota Vios stood out with a total of 3,022 cars sold in December 2023. Compared to November 2023, the sales of over 3,000 Toyota Vios cars represented a growth rate of over 94%. After a challenging first half of the year, Toyota Vios made a strong comeback in Q4 2023 with a highlight in the last month of the year, surpassing Hyundai Accent to become the best-selling compact sedan of the month. |
||||||||||||||||
Toyota Vios accelerating strongly in the final months of 2023. Photo: Minh Quân. |
||||||||||||||||
Despite an over 63% growth in sales compared to November 2023, Hyundai Accent still trailed behind Toyota Vios in the regular sales rankings. The Korean compact sedan recorded sales of 2,752 cars in December 2023, 270 units less than Toyota Vios and nearly 1,250 units more than Honda City, which ranked third. In the final month of 2023, Honda’s bestselling model, Honda City, achieved sales of 1,503 cars and continued to rank behind Toyota Vios and Hyundai Accent in the affordable sedan segment. Previously in the first half of 2023, a prolonged pre-incentive program combined with the downward trend of Toyota Vios sales had helped Honda City secure the second position in the segment for several consecutive months, following Hyundai Accent. Unfortunately, the sales momentum of Honda City stalled in the second half of the year and had to settle for being behind the two aforementioned models as 2023 came to an end. In the remaining group of affordable sedans, only Suzuki Ciaz experienced a decline in sales in the final month of the year, while Mitsubishi Attrage, Mazda2, and Kia Soluto all performed better than November 2023. Overall, the sales performance of these models did not have many noteworthy developments as the market’s attention mainly focused on the top performers such as Toyota Vios, Hyundai Accent, and Honda City. Hyundai Accent Takes the Top SpotDespite a strong acceleration in the last quarter of 2023, the efforts of Toyota Vios seemed to be too late. Although Toyota Vios had improved sales in the second half of 2023, the combined gross sales for Q3 and Q4 were only 8,096 cars, nearly 2,000 units less than Hyundai Accent’s sales of 10,000 cars in the same period. The lack of stability in monthly sales was the reason for Toyota Vios conceding the top spot in the segment to its direct competitor, Hyundai Accent. After 12 months of 2023, Toyota Vios achieved a total sales volume of 13,521 cars, nearly 4,000 units less than Hyundai Accent’s sales of 17,452 cars in the Vietnamese market.
Honda City ended 2023 with sales of 9,894 cars, averaging more than 824 cars per month. Despite being overshadowed by its competitors in the same segment, the sales of Honda City nearly reaching 9,900 units were enough to secure a position in the list of the top 10 most popular cars in the Vietnamese market in 2023. Mitsubishi Attrage (5,050 cars), Mazda2 (4,019 cars), and Kia Soluto (1,055 cars) followed closely behind. Meanwhile, Suzuki Ciaz with sales of 37 cars over 12 months remained the least sold model in the Vietnamese market. Affordable Sedans Still AttractiveIn 2022, the affordable sedan segment achieved a total sales volume of 75,856 cars in the Vietnamese market. The leading models at the top of the sales rankings were Toyota Vios (23,529 cars), Hyundai Accent (22,645 cars), and Honda City with 14,696 units sold over 12 months of 2022. In 2023, the combined sales of the entire compact sedan segment reached 50,991 cars, a decrease of nearly 33% compared to the previous year. Toyota Vios and Hyundai Accent no longer had the ability to compete for the top spot in the overall market, and Honda City also struggled to remain within the top 10 most popular cars list. However, this segment is still likely to be one of the top choices for Vietnamese customers in 2024, despite the rising popularity of MPVs and urban SUVs. The relatively strong sales performance of Hyundai Accent and Toyota Vios indicates that this segment still holds appeal. While the top two models may not have the capacity to compete for the top spot, in order to surpass Accent and Vios and break into the top 5 best-selling cars, the Vietnamese market will need a truly special contender. |
||||||||||||||||
Hyundai Accent surpasses Toyota Vios but loses the ability to compete for the top spot in overall sales. Photo: TC Motor. |
[QUICK REVIEW] Toyota Yaris Cross is coming to Vietnam: Putting pressure on Kia Seltos, Hyundai Creta
Positioned right below its “big brother” the Corolla Cross, the Toyota Yaris Cross boasts a fresh design and a range of modern features that are sure to shake up the crowded B-segment SUV market. Competing against formidable contenders such as the Kia Seltos, Hyundai Creta, Honda HR-V, and Mazda CX-30, the Yaris Cross stands out with its sleek design and advanced technology. Get ready to turn heads on the road with this impressive crossover.