It’s no surprise that the final month of the 50% registration fee subsidy policy saw a significant boost in car sales across the market. According to VAMA, overall market sales increased by 14% compared to the previous month and a substantial 58% year-on-year.
The B-segment sedans were the standout performers, with three models from this category selling over 2,000 units in November. Leading the pack was the Honda City, which surpassed its rivals with an impressive 2,327 units sold, closely followed by the Toyota Vios at 2,137, and the Hyundai Accent with 2,052 units.
Year-to-date, these three models are neck and neck, with the Toyota Vios marginally ahead, selling 12,706 units, followed closely by the Hyundai Accent at 11,677, and the Honda City at 10,068. With only December left to boost sales and the fee subsidy now ended, it seems unlikely that the Honda City or Hyundai Accent will be able to overtake the Toyota Vios in this segment. Nonetheless, the extremely tight race highlights the intense competition within this market segment.
The three B-segment sedans with sales exceeding 10,000 units after 11 months in 2024.
Despite ranking third in overall sales, the Honda City deserves a special mention this year. With Honda consistently offering product discounts to attract customers, this B-segment sedan, which is the most expensive in its category, has become more competitive, allowing it to keep pace with its rivals. In previous years, the Honda City maintained its top 3 position but with a significant gap to the Vios and Accent.
The fact that three models in this segment sold over 2,000 units also underscores the continued popularity of small, affordable sedans among Vietnamese customers, even as urban SUVs continue to enter the market, targeting young and first-time car-buying families.
It’s worth noting that the Toyota Vios and Hyundai Accent have a relatively stable customer base among ride-hailing drivers, although this segment is gradually being eroded by the introduction of electric SUVs from VinFast.
B-segment sedan sales for the first 11 months of 2024.
While the above-mentioned models dominate the segment, other players like the Mazda2, Mitsubishi Attrage, and Kia Soluto lag behind. Mazda2 maintained modest sales of nearly 500 units in the previous month, totaling over 4,500 units year-to-date.
In contrast, the Mitsubishi Attrage, the only imported model in this segment, sold just over 2,300 units in the same period. The Kia Soluto, on the other hand, struggled to keep up, selling fewer than 500 units since the beginning of the year.
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Hyundai’s November performance was largely driven by strong sales of its Accent, Tucson, Santa Fe, and Creta models.
Toyota Vios: Leading the Pack with Over 2,000 Units Sold in November 2024
Toyota Vietnam has announced an impressive sales performance for November 2024. Their popular B-segment sedan, the Vios, witnessed a significant surge in sales, with 2,135 units sold – a remarkable 21% increase compared to the previous month.
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The Year-End Sprint: Massive Discounts on B-Segment Sedans
Most of the B-segment sedans in Vietnam are assembled domestically, so during the year-end period, these models often receive significant discounts of up to tens of millions of VND. These attractive incentives are not only due to the government’s policy of reducing registration fees by 50% but also from the car companies’ and dealers’ own promotional programs, which further attract consumers.
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The Vietnam Automobile Manufacturers Association (VAMA) has released its sales report for August 2024, with an impressive 25,196 units sold by its members.
