VinFast VF 5 sales double those of its gasoline competitors combined

The company delivered about 2,200 VF 5s in August, a decrease of about 14% compared to July (about 2,600 units). This decrease is part of the general downward trend of the market as it coincides with the Ngau month (7th lunar month), a time when many people abstain from buying cars.

VinFast VF 5's sales are still much higher than those of its competitors in the same segment. In August, Kia Sonet was the best-selling gasoline car with 430 units delivered to customers. Hyundai Venue and Toyota Raize sold 297 and 296 units, respectively. Thus, VF 5, the only pure electric car in the segment, had sales more than five times higher than its competitors.

The Vietnamese car company did not disclose its cumulative sales since the beginning of the year. The number of VF 5 cars on the road is about 17,800, much higher than Kia Sonet, the model leading the sales of gasoline cars in the CUV A+ segment with more than 4,300 units sold. Raize and Sonet are more modest, reaching more than 2,600 and 2,100 units respectively.

Thus, the cumulative number of 8 months shows that the number of VF 5 cars sold is nearly double that of all competitors combined (17,800 compared to 9,099 cars).

In previous months, a significant portion of VF 5s were delivered to customers for business purposes, while Raize, Sonet and Venue were mainly for individual customers. However, according to VinFast, in August, almost all of the cars delivered to customers were personal vehicles.

The trend of switching to electric vehicles to save operating costs of many transportation businesses helps VF 5 have the opportunity to expand its market share. At the same time, the gradually increasing network of charging stations is the basis for individual customers to choose electric vehicles. Meanwhile, the domestic assembly factor, many versions, amenities and a wide price range are the key advantages for Sonet to lead the gasoline vehicle segment.

Kia Sonet's good sales have somewhat affected Hyundai Venue. The two models share the same chassis platform, but Sonet is more youthful and has more equipment. Meanwhile, Raize, the only imported model with the cheapest price in the gasoline segment, has not made many breakthroughs in design and amenities.

Cumulative sales of gasoline models in the segment reached 9,099 units after the first 8 months of 2024, almost equivalent to the same period last year (10,001 units). This is in contrast to the sharp 25% decrease in the A-class hatchback segment. In the first 8 months of 2024, Hyundai i10, Kia Morning and Toyota Wigo models sold 4,937 units.

A-size hatchbacks and B-size sedans are the two segments with the most accessible prices in the market, targeting first-time car buyers. However, the preference for high-chassis cars has caused sales of these two lines to plummet, especially A-size hatchbacks due to the disadvantages of modest interior space and low chassis.

According to sales experts, one of the reasons why hatchbacks are gradually losing ground in Vietnam is the appearance of high-chassis, strong-looking, more technological models such as Sonet, Raize, VF 5 with prices of 500-600 million VND. The proof is that many companies are no longer interested in this segment. Honda's Brio, Suzuki's Celerio, VinFast's Fadil have all been discontinued. Currently, VinFast has the VF 5 as a replacement, Honda and Suzuki are leaving open the option of bringing a small A+ sized CUV to Vietnam in the near future.