The Ultimate C-SUV Sales Showdown: How Honda CR-V’s Strategic Price Cut Drove a September 2024 Sales Surge

The Vietnamese automotive market experienced a rebound in September 2024, following the traditional lull of the Lunar July and boosted by the government’s policy of reducing registration fees by 50% for domestically produced and assembled vehicles. As a result, most car models witnessed improved sales figures in the past month, with C-segment SUVs being a notable example.

| | | | | | |
|—|—|—|—|—|—|
| Rank | Model | Sept 2024 | Aug 2024 | Growth Rate | 2024 YTD |
| 1 | Mazda CX-5 | 1,856 | 1,070 | +73.4% | 9,240 |
| 2 | Honda CR-V | 925 | 291 | +217.8% | 4,218 |
| 3 | Ford Territory | 822 | 576 | +42.7% | 5,084 |
| 4 | Hyundai Tucson | 495 | 425 | +16.5% | 3,529 |
| 5 | Kia Sportage | 407 | 291 | +39.8% | 1,925 |
| 6 | Mitsubishi Outlander | 198 | 217 | -8.75% | 1,037 |

Sales of C-segment SUVs in September 2024 (units: cars)

## Mazda CX-5: 1,856 units

Mazda CX-5 continued its dominance in the C-segment SUV market in September, selling 1,856 units, a growth of 73.4% compared to the previous month. This impressive performance secured its position not only within the SUV segment but also in the overall top 10 best-selling cars in Vietnam. In fact, the CX-5 climbed up the ranks to secure the second position in the entire market, second only to the Mitsubishi Xpander.

Mazda CX-5

With a competitive price range of VND 749–979 million for its seven variants, the CX-5’s strong sales performance in Vietnam is hardly surprising. It is currently one of the most affordable C-segment SUVs in the country, more expensive only than a few Chinese competitors like the MG RX5 and MG HS.

Additionally, the CX-5 boasts a sleek design, a comprehensive suite of convenience and safety features, and, being locally assembled, benefits from stable supply and government incentives.

The Mazda CX-5 offers two gasoline engine options: a 2.0L and a 2.5L, delivering 154 hp/200 Nm and 188 hp/252 Nm, respectively. The engines are paired with a 6-speed automatic transmission and either front-wheel or all-wheel drive.

## Honda CR-V: 925 units

The Honda CR-V witnessed the highest growth rate among C-segment SUVs in September, with sales of 925 units, an impressive increase of 217.8%. Notably, 219 of these were the hybrid variant. This makes the Honda CR-V one of the best-selling hybrid vehicles in Vietnam.

Honda CR-V

This outstanding performance can be attributed to Honda’s decision to reduce the listed price of three variants (G, L 2WD, and L AWD) of the CR-V from September 1, 2024. The new prices for these variants are VND 1.029 billion, VND 1.099 billion, and VND 1.25 billion, respectively. Meanwhile, the price of the hybrid variant, the e:HEV RS, remains unchanged at VND 1.259 billion. Additionally, the G, L 2WD, and L AWD variants benefit from the government’s 50% reduction in registration fees for domestically produced and assembled vehicles.

The Honda CR-V is positioned at the higher end of the C-segment SUV price range in Vietnam. However, it offers distinct advantages in terms of design and features.

Under the hood, the Honda CR-V offers two engine options. The first is a 1.5L turbocharged 4-cylinder gasoline engine that produces 188 hp and 240 Nm of torque, paired with a continuously variable automatic transmission (CVT) and either front-wheel or all-wheel drive.

The second option is a hybrid powertrain, comprising a 2.0L 4-cylinder gasoline engine that generates 146 hp, combined with two electric motors delivering a total of 181 hp. Together, the system produces 204 hp and 335 Nm of torque.

## Ford Territory: 822 units

The strong growth of the Honda CR-V pushed the Ford Territory to third place in the C-segment SUV market. In September 2024, the Ford Territory sold 822 units, reflecting a growth of 42.7%.

Ford Territory

During the month, the Ford Territory benefited from a 100% registration fee waiver offered by both the company and the government. The total value of incentives for this model ranged from VND 80 million to VND 92 million, depending on the variant. These promotions are expected to continue boosting the Territory’s sales performance in October 2024.

The Ford Territory is available in four variants in Vietnam, with prices ranging from VND 799 million to VND 929 million, making it a competitive option in the segment. The model also scores well in terms of its imposing and modern exterior, spacious interior, and generous features.

All variants are powered by a 1.5L EcoBoost 4-cylinder gasoline engine that delivers 160 hp and 248 Nm of torque, mated to a 7-speed automatic transmission.

## Hyundai Tucson: 495 units

Ranking fourth in the C-segment SUV market is the Hyundai Tucson, with sales of 495 units in September, reflecting a growth of 16.5%. This relatively lower growth rate is understandable, given that September 2024 marked the period when an upgraded version of this C-segment SUV was about to be launched.

Hyundai Tucson

Similar to many of its competitors in this segment, the Hyundai Tucson also benefits from the government’s 50% reduction in registration fees for domestically produced and assembled vehicles. This policy allows customers to save between VND 38 million and VND 55 million, depending on the variant and registration province.

The pre-upgrade Hyundai Tucson was priced between VND 769 million and VND 919 million. It stood out for its distinctive design, spacious interior courtesy of its large wheelbase, and versatile engine options.

Under the hood, the Hyundai Tucson offered three engine choices: the Smartstream 4-cylinder 2.0L gasoline and diesel engines and the turbocharged 1.6L 4-cylinder gasoline engine. These engines produced a maximum output ranging from 156 hp to 180 hp and maximum torque from 192 Nm to 416 Nm.

The engines were paired with either a 6-speed automatic, an 8-speed automatic, or a 7-speed dual-clutch automatic transmission, depending on the variant. The Tucson offered front-wheel drive or HTRAC all-wheel drive.

## Kia Sportage: 407 units

Kia Sportage also witnessed growth in September 2024, with sales of 407 units, reflecting a 39.8% increase. However, this improvement did not significantly alter its position in the C-segment SUV market.

Kia Sportage

The Kia Sportage is available in eight variants in Vietnam, with prices ranging from VND 779 million to VND 999 million. Like its competitors in this segment, the Sportage benefits from the government’s 50% registration fee reduction, helping buyers save between VND 39 million and VND 60 million, depending on the variant and registration province.

Compared to its rivals, the Kia Sportage’s pricing may not be the most attractive, and its exterior design has been criticized as cluttered and less appealing to some customers. However, it stands out as the model with the most variants in the segment, providing a wide range of choices for prospective buyers.

The Kia Sportage shares the same three engine options as the Hyundai Tucson, as both models are produced by the Hyundai Motor Group.

## Mitsubishi Outlander: 198 units

The Mitsubishi Outlander was the only C-segment SUV to witness a decline in sales in September 2024, selling only 198 units, a decrease of 8.75%. Consequently, it continued to rank last in the segment.

Mitsubishi Outlander

In October 2024, Mitsubishi is offering a fuel voucher worth VND 20 million and a 360-degree camera for the Outlander. Additionally, the model benefits from the government’s 50% reduction in registration fees.

The Mitsubishi Outlander is priced relatively higher, with its two variants costing VND 825 million and VND 950 million, respectively. Moreover, the model has not received any significant upgrades in terms of design or features for quite some time, which may contribute to its lower sales performance.

The Mitsubishi Outlander is equipped with a 2.0L MIVEC 4-cylinder gasoline engine that produces 145 hp and 196 Nm of torque, paired with a CVT transmission.