Fastest cars to reach 10,000 sales in Vietnam

In Vietnam, a car model’s annual sales of 10,000 units is a milestone that guarantees its ability to enter the top 10 best-sellers in the entire market. At the same time, achieving or exceeding this sales volume means that this is a strategic product for that brand. For imported car models, sales of 10,000 units or more are also one of the conditions for the brand to consider localizing production. It is rare for an imported car model to sell below this level and switch to domestic assembly.

However, a model reaching the 10,000 mark in a short period of time is not a guarantee of long-term success. In fact, there are models that initially sell well, but then fail to maintain their appeal in the market and are surpassed by competitors.

The Vietnamese auto market has been continuously welcoming many new car models appearing for the first time. The most popular models are still small CUVs or MPVs aimed at first-time buyers. Below are the car models that have reached or surpassed the 10,000-vehicle mark fastest in the market in the past 5 years:

Toyota Veloz - 8 months - 11,255 vehicles

After unsuccessful experiments such as Avanza and Rush, Toyota Vietnam returned with ambitions in the small MPV segment with the Veloz imported from Indonesia in March 2022. The car was developed on the platform of Daihatsu subsidiary DNGA with a modern appearance and TSS safety technology package that set standards for the segment that other competitors later adopted.

After 8 months of sales, by October of the same year, Toyota Veloz reached 11,255 vehicles. If including the twin model but positioned lower, Avanza, the Japanese company's small MPV line in general has the fastest sales speed of 10,000 vehicles in the Vietnamese market.

The good sales of Veloz and Avanza are the basis for Toyota Vietnam to assemble these two car lines domestically. The localized versions of Veloz and Avanza were launched in December, just 10 months after the introduction of the imported versions.

Up to now, although it has not been able to overthrow the dominance of Mitsubishi Xpander in the small MPV segment, Veloz is still in second place and contributes greatly to Toyota's number one market share in the passenger car segment, alongside other key models such as Vios and Corolla Cross.

Kia Seltos - 8 months - 11,223 cars

When Hyundai Kona was at its peak of sales with more than 7,000 cars/year, Truong Hai - Kia's assembly and distribution partner - launched Seltos in July 2020 with the ambition of redistributing the market share. It was not until September that the company delivered the first Kia Seltos to customers. After 8 months, by April 2021, Seltos sales exceeded 10,000 units.

Kia's model beats Kona with advantages such as youthful appearance suitable for both male and female customers, wide price range and lower than competitors. Seltos is also assembled domestically so it has proactive supply like Kona. Kia Seltos's fast sales speed also comes partly from the preferential support of registration fees for domestically assembled cars applied by the Government in the second half of 2020.

The presence of Seltos has made the one-time sales king - Ford EcoSport - struggle to find a foothold. Without a successor, the aging and somewhat masculine EcoSport cannot withstand the influence of younger, more convenient Korean models. Ford will discontinue EcoSport in early 2022, ending its 8-year journey in the B-class CUV segment as a pioneer.

The Hyundai Kona also disappeared in May 2022. The Korean company wants to reposition the product with the more trendy Creta to compete with the Seltos. Kia Seltos's sales peaked in 2021 with 16,122 units. So far, Seltos has failed to maintain its position in the segment, allowing Japanese models such as the Xforce and Yaris Cross to surpass it.

Mitsubishi Xforce - 8 months - about more than 10,000 cars

After the success of Xpander with the number one position in sales of the small MPV segment, Mitsubishi is looking for the second sales star within 5 years. Aiming at the group of cars that are receiving special attention from the market, small CUV, Mitsubishi Xforce was created by the company with the origin of development from Southeast Asian countries, including Vietnam.

Inheriting the dynamic Dynamic Shield language that was present on Xpander, Mitsubishi Xforce did not take long to get acquainted with Vietnamese customers. Along with the best amenities and safety technology in the segment, Xforce continuously "sold out" at dealers.

Being in the top sales list for many months partly reflects the heat Xforce creates, similar to the way many previous competitors such as Seltos and Creta used to have in the B-class car group. Before October, Mitsubishi Xforce reached its sales peak in August with 2,504 cars sold, being the best-selling car model in the small CUV segment and the entire Vietnamese car market.

The first Xforce units were sold in March and by October, sales had exceeded 10,000 units. Along with the Xpander, the Xforce is the second "golden goose" car line for the Japanese company.

The great attraction of Xforce also comes from a key factor: price. Although it is a Japanese car and imported, Mitsubishi Xforce has a price equal to Seltos, Creta (domestic assembly) in the lower versions. This is different from the approach of other Japanese brands such as Honda, Toyota, Nissan.

Hyundai Crera - 9 months - 10,219 cars

Not giving up on the potential B-size CUV segment, Hyundai Thanh Cong brought the Creta imported from Indonesia to sell in Vietnam from March 2022 to replace the Kona. This joint venture reused Thaco's sales policy that was applied to Seltos to help Creta turn the tables.

Youthful appearance, similar equipment but slightly lower price than Seltos help Hyundai Creta attract first-time car buyers who love new experiences. While Creta sells well, Seltos' sales decline. In November 2022, after 9 months, Creta reached more than 10,000 cars sold. By 2023, Creta will surpass Seltos to regain the B-size CUV sales throne once held by its senior Kona.

But Hyundai's model did not stay on top for long because the market now has more and more choices, unlike 2018-2020 with only a few products. In addition to the main competitor Seltos, Creta competes with many other names such as HR-V, Yaris Cross, CX-3. Not to mention models in the mid-segment such as Raize, Sonet A+ or Corolla Cross, CX-30 B+.

By 2024, Creta has lost its appeal due to the appearance of Mitsubishi Xforce and its rival Kia Seltos launching a new upgraded version. Hyundai Thanh Cong is facing the problem of how to revive Creta when consumer trends have changed so much in a short time.

Toyota Corolla Cross - 10 months - 10,590 cars

Toyota approaches the small CUV segment with Corolla Cross, a model positioned at B+ size due to its size and superior equipment compared to Seltos and Creta. Imported, the most expensive in the segment, Corolla Cross still attracts customers with its safety amenities, new flavor called hybrid engine and moderate car price for urban customers who do not want to upgrade to segment C.

Corolla Cross was sold from August 2020 and by May of the following year, it had exceeded 10,000 units. Like other new Toyota models, Corolla Cross was also expensive when it first went on sale but gradually cooled down due to less concentrated demand and more available supply.

Developed on the TNGA global chassis platform, Toyota Corolla Cross is a small CUV with good driving quality, high finishing, fuel economy in hybrid engine but has a minus point in noise. The B+/C- CUV model also opens a new phase for Toyota in the domestic market when the new car is launched with a more modern and unique design. The TSS safety package on Corolla Cross is also the first brick for Altis, Camry, Fortuner, Veloz... or other models to follow.

Corolla Cross has almost no obstacles in the sales race because its competitor Mazda CX-30 has weak competitiveness. However, because it is positioned in the mid-range segment, price fluctuations in the B or C segment affect Toyota models.

Truong Hai lowered the selling price of Mazda CX-5 to 749 million VND from July 2023 or B-size CUV models set a new base price of 599 million VND from early 2024, causing Toyota to also adjust the price range for Corolla Cross. The mid-cycle upgrade of Corolla Cross launched in May has a new price of 820-905 million VND, a decrease of 40 million and 50 million VND respectively compared to the old version despite possessing many new upgrades.

Mitsubishi Xpander - 13 months - 10,894 cars

Xpander is not the model that opened the small MPV segment, but it is a game changer when it was launched in August 2018. Toyota Innova dominates the segment's sales thanks to its practicality but boring appearance, the highest selling price in the segment. Meanwhile, names like Toyota Avanza, Suzuki Ertiga, Kia Rondo, Chevrolet Orlando lack outstanding designs.

Mitsubishi has a three-factor approach to the market, more eye-catching appearance than competitors, practicality and a more accessible price than the current dominant model - Innova. In this way, Mitsubishi Xpander creates a new consumer trend. There, customers can use Xpander for personal or service purposes. At the same time, the interior space is enough for 7 people but at a softer price than the familiar choice from Toyota.

Since the end of 2017, the domestic economy has been improving, the influx of technology taxi companies into Vietnam has significantly increased the demand for service vehicles. With the right market entry point, Mitsubishi Xpander has become popular and has enlivened the MPV segment that was formed many years ago.

Xpander's influence gradually increased, car user groups from many regions of the country were launched one after another. In August 2019, after one year of presence in Vietnam, Xpander surpassed the 10,000 unit mark, something that no Mitsubishi model had ever done before.

Up to now, competitors such as Toyota, Suzuki, Hyundai have continuously introduced new or upgraded products, but Mitsubishi Xpander is still the best-selling MPV model in Vietnam. With a sales gap of nearly double that of the next competitor, Veloz, after three quarters of 2024, the sales throne of the segment for the 6th consecutive year almost continues to be called Xpander. Mitsubishi has been present in Vietnam for about 30 years but only really took off when Xpander appeared.