This Toyota model did not sell any units in Vietnam in June.
Belonging to the popular segment, Toyota set a low price, but this model's sales continuously decreased in the first half of 2022 and were "blank" in June.
According to a report by the Vietnam Automobile Manufacturers Association (VAMA), no Wigo was delivered to customers in June. This result continues the downward trend of the A-class hatchback from the Japanese brand. It also shows that not all cars with the Toyota logo sell well in Vietnam.
Toyota Wigo: From over 1,500 cars a month to 0
Introduced in Vietnam since late September 2018, Wigo carries the expectation of helping Toyota gain market share in the A-class hatchback segment, when the "piece of cake" falls mainly on Hyundai Grand i10. October 2018 is considered the peak of Wigo when sales reached more than 1,500 cars; however, that was just a ray of light.
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Toyota Wigo was expected to put pressure on Korean cars in the segment. |
In 2019, Toyota sold less than 7,000 Wigos and was left behind by two Korean cars, the Grand i10 and Kia Morning. In 2020 and 2021, competition in the segment became more fierce with the addition of VinFast Fadil. Wigo sales in those two years only reached about 2,500 cars/year and were pushed to the "bottom of the list".
Wigo's cumulative sales in the first half of 2022 reached only 488 cars. Of which, there were 9 cars in May and by June, they were "blank". According to a survey byPeople's IntelligenceSome Toyota dealers said that Wigo has no imported cars because the actual market demand for this product is not high.
With sales down to zero, some people question the future of Toyota Wigo in Vietnam.
Fadil is about to "give up the throne" to Korean cars
In June, sales of A-class hatchbacks all fell sharply. Fadil continued to lead the segment with 1,338 units delivered to customers, bringing the cumulative number in the first half of 2022 to 9,566 units. Despite selling well, VinFast has stopped selling this model (along with the Lux) in its strategy to completely switch to electric cars.
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According to the manufacturer, the last batch of Fadil and Lux cars has been sold out. From now until the end of August, VinFast will focus on production to deliver cars to customers who have signed contracts, before officially closing the entire gasoline car line.
June sales of Hyundai Grand i10, Kia Morning and Brio were all lower than the previous month. Limited supply has greatly affected production, even ordinary car buyers have to wait 1-2 months to receive their cars. In the near future, the A-class hatchback segment in Vietnam will have many fluctuations.
Fadil's withdrawal from this playground will make it easier for Grand i10 or Kia Morning. Toyota Wigo's sales are at 0, Honda Brio is also "sluggish", so Korean cars will soon have the opportunity to dominate the segment.