The Vietnam Automobile Manufacturers’ Association (VAMA) recently announced its members’ sales figures for July 2024. Following the overall market recovery, hybrid segment sales rebounded with growth after a decline in June.
Specifically, hybrid segment sales reached 782 units in June, a 35.8% increase from the previous month. From the beginning of the year until now, a total of 4,230 hybrid vehicles have been sold.
In July 2024, the Honda CR-V e:RS emerged as the segment leader with 270 units sold, a 125% increase from the previous month. Cumulatively, for the first seven months, sales of the Honda CR-V hybrid version reached 805 units, accounting for 19% of the market share. There isn’t a significant difference between the ICE and hybrid versions of the Honda CR-V.
Meanwhile, the Toyota Innova Cross dropped to second place with 173 units sold, a 36.8% decrease from June. In the first seven months of 2024, 1,072 units of the Innova Cross hybrid were delivered, capturing a 25.3% market share.
Suzuki dealers are clearing out the Ertiga inventory, resulting in decreased sales of only 19 units in July. Nevertheless, this model remains the best-selling vehicle since the beginning of the year, with 1,200 units sold.
Notably, the Toyota Yaris Cross witnessed a significant surge in sales, reaching 157 units in July, a whopping 5,133% increase compared to June, which only saw 3 units sold. Since the beginning of the year, this model has sold 446 units, ranking fourth in the segment. The combination of dynamic design, compact size suitable for urban areas, and advanced hybrid technology has made the Yaris Cross an appealing choice for young consumers and new drivers.
It is evident that gasoline-powered vehicles continue to outsell their hybrid counterparts due to their accessibility in pricing and familiarity among consumers. Nonetheless, the sales volume of hybrid versions within the hybrid lineup is not insignificant and shows stable growth over time.
Recently, Honda Vietnam (HVN) announced the launch timing of the new version of the C-segment sedan, the Civic. Accordingly, the all-new Honda Civic, including the e:HEV RS hybrid variant with a maximum output of 200 horsepower and a Bose 12-speaker audio system, will be officially introduced to the Vietnamese market in October 2024.
July witnessed a continuation of the upward sales trend, driven by customers’ confidence in the government’s reduction of registration fees and the efforts of businesses to stimulate demand. However, this growth trajectory is likely to be interrupted in August due to the coincidence with the inauspicious month of “Ngau,” while the expected policy of reducing registration fees by 50% has not yet come into effect.
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