4 cars compete for the best-selling position in Vietnam in 2023

There are still two months left in 2023, but the group of 4 models leading the sales of the entire market has created a gap that is difficult to fill with the rest. Models such as CX-5, Xpander, Accent and Ranger all sold 12,000 vehicles or more. The name closest to the top 4 is Toyota Corolla Cross with sales of 9,707 vehicles after 10 months, about 3,000 vehicles away from the fourth position of Ford Ranger. Corolla Cross sells an average of about 970 vehicles/month.

Mitsubishi Xpander

2023 is the first year that Mitsubishi Xpander has the opportunity to become the best-selling car model in the entire Vietnamese market. In previous years, this position usually belonged to small sedans or hatchbacks such as Toyota Vios and VinFast Fadil. After 10 months of 2023, Mitsubishi's MPV model sold 15,464 units, leading the segment and the car industry, surpassing the second-ranked model, the CX-5, by more than 2,400 units.

Xpander is the best-selling model in its segment because it is an MPV that balances many aspects such as price, design and practicality. However, the obstacle on the way to the top position in the industry's sales is the form of imported distribution (Xpander is assembled in a small, insignificant amount in Vietnam). Meanwhile, the competitors following closely behind such as CX-5, Accent or Ranger are all assembled domestically.

Decree 41's 50% reduction in registration fees for assembled cars gives domestic models a big advantage in reaching customers. In recent months, in addition to the company's support, dealers have also reduced prices for Xpander to match the promotions of competitors in the same segment. Mitsubishi's appeal has therefore remained good despite sales mainly coming from imported versions.

Compared to the same period in 2020, Mitsubishi Xpander's sales decreased by 14%.

Mazda CX-5

CX-5 sales accelerated since July when Truong Hai (Thaco) launched a mid-cycle upgrade and a shocking price, 749-999 million VND, the lowest in the segment. With both an attractive selling price and preferential registration fees, CX-5 increased its influence and continuously led the sales of the entire market in the last 3 months.

The CX-5 is not highly rated for its driving experience compared to competitors such as the Honda CR-V, Subaru Forester... but with a neutral design, rich equipment and the lowest price in the segment, Mazda's model is the choice of the majority of Vietnamese customers. In the last two months of the year, the psychology of owning a car early to enjoy the registration fee incentives of customers is increasing. This can help Mazda CX-5 sales continue to break through.

Compared to the same period in 2020, Mazda CX-5 sales decreased by 16%.

Hyundai Accent

Selling only 17 fewer units than the CX-5 was the B-class sedan, Hyundai Accent. Taking advantage of its rival Toyota Vios's weak sales, the Korean car rose to take the throne in the segment with 13,014 units sold, an average of 1,300 units/month.

Accent (VND 426-542 million) has a more accessible price than Vios (VND 479-592 million). In 2023, the Korean car model has no upgrades, while its Japanese rival has a new version in May but has caused a lot of controversy about its design. Dealers' more frequent discounts also help Hyundai Accent sell better than Vios.

The gap with Vios after 10 months of 2023 is more than 4,000 cars. Both domestically assembled and enjoying the same preferential registration fee, the opportunity for Vios to turn the tide against Accent in the rest of 2023 is unimaginable.

Compared to the same period in 2020, Hyundai Accent sales decreased by 27%.

Ford Ranger

Ranger has dominated the segment in Vietnam for many years and is the only pickup truck model capable of challenging the names in the top best-selling car group in the market. Ford Ranger's cumulative sales up to October were 12,710 vehicles, or an average of more than 1,200 vehicles/month.

The taste of pickup truck users in Vietnam does not emphasize practicality and durability like Thai people, aspects that are highly appreciated by Japanese models such as Toyota Hilux, Isuzu D-Max. The factors that attract Vietnamese customers to this line of vehicles that can both carry people and goods are the masculine American design, many equipment and technology. This is the strength of Ford Ranger.

Not only is it the most attractive, Ford also offers many different variants to diversify its customer base, from people-carrying combined with cargo, to being used primarily as a car or a sporty style like the Raptor variant. In Vietnam, Ranger has the most variants to choose from, the most equipment and the most expensive price.

Domestic assembly (part of the imported XLS versions) further strengthens the influence of Ford Ranger in the segment. Because all competitors such as Toyota Hilux, Mitsubishi Triton... are imported from Thailand. Ranger sales after 10 months of 2023 increased slightly by 5% compared to the same period in 2020.

The rest of the group of 10 best-selling cars in the market after 10 months of 2023 are familiar names such as Toyota Corolla Cross, Toyota Vios, Kia Sonet, Hyundai Creta, Honda City and Kia Seltos.