Affordable Sedans: Racing into Summer with Sizzling Deals

The compact sedan segment, once a top choice for Vietnamese customers, both for family use and transportation services, included popular models such as the Toyota Vios, Hyundai Accent, and Honda City.

However, the rise of SUVs, MPVs, and electric vehicles has significantly impacted the market share of compact sedans. To stay competitive, automakers have been offering various incentives, and in June, these promotions helped Vietnamese customers save tens of millions of dong on their car purchases.

Japanese Cars Offer Registration Fee Support

The Toyota Vios, currently the best-selling compact sedan with 3,058 units sold in the first four months, has seen improved sales since the launch of its upgraded version. Toyota continues to offer promotions for the Vios in June.

Customers who purchase the Toyota Vios in June will receive support for 50% of the registration fee, equivalent to 23-27 million VND depending on the version. In addition, the compact sedan is also offered with a one-year free hull insurance worth 7-8 million VND, bringing the total value of incentives to 30-35 million VND.

Similarly, the Honda City is also offered with a 50% discount on the registration fee in June. The incentive is equivalent to 25-28.5 million VND depending on the version and applies to a 10% registration fee.

Mitsubishi Attrage, the B-segment sedan imported from Thailand, offers a 100% discount on the registration fee for the manual transmission version in June. Along with fuel vouchers and a rearview camera, the total value of incentives for this version of the Attrage reaches 48.5 million VND.

The highest-grade version of the Mitsubishi Attrage receives a 50% support on the registration fee. The fuel voucher included in this version is worth 20 million VND, and together with the shark fin antenna gift, the total value of incentives amounts to 46 million VND.

Korean Sedans Strive to Make a Comeback

In the B-segment sedan market in Vietnam, Korean automakers are represented by the Hyundai Accent and the Kia Soluto.

Both the Hyundai Accent and the Kia Soluto are facing challenges in the Vietnamese market. The Hyundai Accent is gradually losing its position in the sales race, while the Kia Soluto seems to be on its way to becoming the slowest-selling B-segment sedan in Vietnam, following in the footsteps of the Suzuki Ciaz.

In June, Hyundai Accent and its sister models are offered with incentives of up to 100% of the registration fee. According to a sales consultant, the promotion for the Hyundai Accent in June ranges from 30 to 35 million VND, applicable to the AT versions.

The Kia Soluto also offers a cash incentive of 5 million VND, but only for the manual transmission version. The selling price of the Kia Soluto in Vietnam currently ranges from 386 to 422 million VND, depending on the version.

Challenges for Affordable Sedans

Once a top choice in Vietnam, the B-segment sedan, represented by models such as the Toyota Vios, Hyundai Accent, and Honda City, is facing challenges in the market.

As of April, the Toyota Vios (3,058 units), Honda City (2,958 units), and Hyundai Accent (2,602 units) remain in the top 10 best-selling internal combustion engine vehicles. However, their positions in the sales rankings have declined compared to previous years.

One reason for the declining market share of affordable sedans is their similar price range to that of compact SUVs and MPVs, while offering relatively limited space.

The rise of electric vehicles is also noteworthy. Electric models such as the Wuling Mini EV (from 197 million VND), VinFast VF 3 (299 million VND), Wuling Bingo (from 399 million VND), and VinFast VF 5 (529 million VND) are either cheaper or similarly priced to B-segment sedans.

However, electric vehicles have the advantage of lower operating costs compared to gasoline-powered cars. This inadvertently creates pressure on former top choices in the transportation services segment, such as the Toyota Vios and Hyundai Accent.

Overall, while facing challenges, compact sedans will still have a place in the Vietnamese market. Similar to A-segment cars, compact sedans remain an attractive option for young families and first-time car buyers due to their affordable price range.

Nevertheless, it is likely that the presence of compact sedans like the Toyota Vios, Hyundai Accent, and Honda City in the top 10 best-selling vehicles in Vietnam will become increasingly rare.

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