August 2024 saw a significant dip in Vietnam’s automotive market, partly due to the month coinciding with the seventh lunar month. This impacted the sales of many car models, as evident in the list of the 10 worst-selling cars in Vietnam for August 2024.
| No. | Car Model | August 2024 | July 2024 | Growth Rate |
| 1 | Honda Accord | 3 | 6 | -50% |
| 1 | Honda Civic Type R | 3 | 0 | – |
| 2 | Toyota Alphard | 9 | 18 | -50% |
| 3 | Suzuki XL7 | 13 | 20 | -35% |
| 4 | Kia K5 | 14 | 41 | -65.8% |
| 5 | Kia Soluto | 19 | 38 | -50% |
| 6 | Isuzu mu-X | 20 | 18 | +11.1% |
| 7 | Honda Civic | 21 | 60 | -11.1% |
| 8 | Toyota Land Cruiser | 22 | 71 | -69% |
| 9 | Toyota Corolla Altis | 33 | 78 | -57.6% |
| 9 | Ford Explorer | 33 | 68 | -51.4% |
10 worst-selling cars in Vietnam for August 2024 (in units)
Specifically, last August, the slowest-selling cars in the Vietnamese market were the Honda Accord and Civic Type R, with both models selling only 3 units each. The low sales of the Honda Civic Type R are not surprising as this model is available in Vietnam by order only.
The Honda Accord, on the other hand, is a frequent entrant in the list of worst-selling cars in Vietnam. Compared to the previous month, sales of this D-segment sedan decreased by 50%, despite the brand offering a cash incentive of up to VND 220 million.
Several factors influence the sales performance of the Honda Accord in Vietnam. Apart from the impact of the seventh lunar month, the Accord also has a high price tag of up to VND 1.319 billion and is available in only one version. Additionally, the model hasn’t received any design or feature upgrades in a while, and the D-segment sedan category is not as popular in Vietnam as it used to be.
Following the Honda duo is the Toyota Alphard, which sold only 9 units, a 50% decrease. This outcome is understandable, as the Toyota Alphard, with a price tag of up to VND 4.37 billion, caters to a niche market.
Ranking third in the top 10 worst-selling cars is the Suzuki XL7. This small MPV sold only 13 units, a 35% decrease. The low sales can be attributed to the anticipation of the upgraded version of the Suzuki XL7, which was launched in the Vietnamese market on August 21, 2024, featuring a new mild hybrid engine.
Similarly, the Kia K5 experienced an unfavorable sales month in August 2024, with a 65.8% decline to only 14 units sold. In recent months, this mid-sized sedan has consistently ranked among the worst-selling cars in Vietnam, highlighting the challenges faced by the D-segment sedan category in the local market.
Following the K5 is its sibling, the Kia Soluto. This B-segment sedan sold only 19 units, a 50% decrease. Despite its affordable price, the Kia Soluto fails to appeal to Vietnamese consumers due to its unremarkable design and features.
The sixth position in the top 10 goes to another familiar name, the Isuzu mu-X. In August 2024, Isuzu sold 20 mu-X units, a positive growth of 11.1%. This model is one of the few in the top 10 to achieve sales growth last month.
The most surprising entry in the top 10 worst-selling cars in Vietnam for August 2024 is the Honda Civic. This C-segment sedan sold only 21 units, a significant drop of 65%. It is the third Honda model in this list, partly due to the upcoming launch of the upgraded version of the Civic in October.
The next two models are from Toyota: the Land Cruiser and the Corolla Altis. The sales figures for these two models were 22 units (a decrease of 69%) and 33 units (a decrease of 57.6%), respectively. Unlike the Corolla Altis, the Toyota Land Cruiser has a smaller customer base due to its high price, starting at VND 4.286 billion.
Rounding off the top 10 is the Ford Explorer, with sales of only 33 units, a decrease of 51.4%. Its high starting price of VND 2.099 billion makes this large SUV relatively unpopular in Vietnam. Additionally, the Ford Explorers currently sold in Vietnam are 2023 models (2023 VIN).
In September 2024, Vietnam’s automotive market is expected to rebound in terms of sales, partly due to the end of the seventh lunar month. Additionally, a decree reducing the registration fee for domestically produced and assembled cars will take effect this month, further boosting the overall market.
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