Japanese cars dominate Vietnamese auto market segments

In April, the Vietnamese auto market became somewhat quiet again after "peaking" in the last month of the first quarter of this year. Most car manufacturers in Vietnam saw a decrease in sales in April. If we calculate the cumulative total for the first 4 months of 2024, the entire market consumed 96,935 vehicles, down 14% compared to the same period last year.

However, the rare bright spot of the Vietnamese market in April was the rise of Japanese cars, which took the lead or made changes in almost every segment. Below is a summary of the top car models in the segment in April and the first 4 months of the year.

Of the 12 popular car segments above, in April, 8 segments were led by Japanese cars, the rest were divided equally into 2 segments for Korean cars and 2 for American cars. If calculated cumulatively, the numbers are similar, when 7/12 segments have Japanese cars as champions.

The competition between Japanese and Korean cars has heated up in recent years as Korean cars have developed rapidly, Hyundai and Kia models with many new features, designs, and affordable prices have gradually taken over the main segments that Japanese cars previously held. The "easy to buy" price policy of Korean cars has forced Japanese car manufacturers to change accordingly, reduce prices and increase equipment. When catching up with this game, with the advantage of trust in durability and quality, Japanese cars have gradually regained their position.

In the A-class sedan/hatchback segment, Toyota Wigo became the best-selling car in the segment for the first time with sales of 267 units. Since its launch in mid-2023, the Japanese car model has taken the second place from Kia Morning, maintaining it until March, and took the throne from Hyundai i10 in April.

If we look at the cumulative sales of the first 4 months of 2024, the i10 is still at the top with 1,570 cars. A representative of Hyundai Thanh Cong said that the i10 is almost out of stock at the dealership, the company proactively stopped the supply to prepare for the new upgrade expected to launch next June. Therefore, from the second half of 2024, the Wigo's position will be harder to maintain each month.

In the B-segment sedan segment, Toyota Vios won the segment crown for the first time in 2024, taking the position from Honda City, rising from 4th place in the previous month. There were 923 Vios cars delivered to customers, down 1.2% compared to the previous month, the lowest decrease compared to competing models. However, in terms of cumulative sales, the Korean Hyundai Accent still led in 2024, with 3,096 cars.

In the C-segment sedan segment, Mazda3 still leads both April sales (337 cars) and cumulative 2024 sales (1,319 cars), but Honda Civic is the only model with increased sales, the second consecutive time it has doubled in one month. Civic sales in February, March, and April were 42, 97, and 197 cars, respectively. Civic's increase (100 cars) is greater than the decrease of other cars combined in the segment this month.

For the D-segment sedan segment, Toyota Camry is still the model that accounts for the majority of sales in the segment, with 133 cars sold in April, and 448 cars in the first 4 months of 2024. This sales volume is 2 more than the previous month. In the D-segment in Vietnam, only Kia K5 is a representative from Korea, the remaining models are from Japan.

In the high-chassis segment, Japanese and Korean cars share the "dominance" of the rankings in different vehicle sizes. In the high-chassis segment A+, Kia Sonet is at the top with 563 cars sold in April, and 2,452 cars if considering the cumulative 2024. High-chassis segment B is a playground for Japanese cars, the leading model in April is Toyota Yaris Cross with 882 cars, while Mitsubishi Xforce still has the largest cumulative 2024 with 2,140 cars. Mazda CX-5 leads the C-class high-chassis segment with 800 cars sold in April, and 3,119 cars in the first 4 months of 2024.

Ford is the only American brand to top the rankings in the D-segment and pickup truck segments. April and cumulative 2024 sales of the Ford Everest were 766 and 2,801 vehicles, respectively. For the Ford Ranger, the figures were 1,262 and 4,824 vehicles. Almost no Japanese or Korean competitor can dethrone Ford in these two segments.

In the mid-size MPV segment, Toyota Innova (including Innova Cross) continued to lead with 864 vehicles sold, nearly 4 times more than its Korean rival Hyundai Custin. Dealers said Innova's sales accelerated thanks to abundant supply since April, no longer scarce as in the previous period.

In the small MPV segment, the leader is still Mitsubishi Xpander with 1,263 cars sold, the 2nd and 3rd positions are also Japanese cars, Toyota Veloz and Suzuki XL7. Xpander is a popular choice in the segment because of its advantages such as reasonable price, modern design, suitable for the majority of Vietnamese customers.