Cars priced from 500-700 million VND are dominating the market

According to statistics from the Vietnam Automobile Manufacturers Association (VAMA), Hyundai Thanh Cong and VinFast showed that sales in the past 11 months were higher than the record set in 2019.

Specifically, by the end of November 2022, the units that contributed the most to the number of cars sold, including VAMA members, Hyundai Thanh Cong and VinFast, recorded total sales of nearly 418,000 units. This is also the second time that the sales of the Vietnamese automobile market have exceeded the 400,000-unit mark.

In addition to stimulating demand from automakers, the Government's policy of reducing 50% of registration fees for domestically produced and assembled cars in the first half of 2022 has brought about outstanding results.

In 2022, many segments will have fierce competition for the leading position in best-selling cars, in which, B-class cars, priced from 500 million - 700 million VND, will stand out.

In particular, Vios is the best-selling car model in the whole market. In December 2022, Toyota Vios had impressive sales growth with 2,764 vehicles. Compared to November, this sales figure is about 40% higher. Notably, this is also the month with the second highest sales of Toyota Vios in 2022. Previously, the car model set a record for the highest monthly sales of the year with 3,887 vehicles (May 2022).

Vios is still a bright name in the sales race in 2022.

Entering 2023, Toyota Vios is also expected to have spectacular breakthroughs, especially the 4th generation Vios has been launched in many Southeast Asian countries such as Thailand, Indonesia, Cambodia and Laos.

As a "national" car, the new Vios promises to quickly attract the attention of Vietnamese users. Some dealers said that the model will likely be launched in Vietnam in the first half of 2023.

Next, the car model in the price range of 500 million - 700 million VND also dominated sales in 2022, which was Hyundai Accent with 22,645 units sold.

Currently, the Hyundai Accent 2022 is assembled domestically by TCMotor and distributed in 4 versions, using a 1.4L engine with a 6-speed manual transmission or a 6-speed automatic transmission. The versions of Accent have listed prices from 426 to 542 million VND.

Hyundai Accent. Photo: TC Motor

Mitsubishi Xpander in 2022 also sold 21,983 and ranked 3rd in the top 10 best-selling cars in the whole market. Mitsubishi Xpander 2022 is distributed in 4 versions: MT, AT, AT Premium and Xpander Cross. The selling price of Xpander 2022 ranges from 555-688 million VND. All versions use a 1.5L 4-cylinder engine, producing 103 horsepower.

Mitsubishi Xpander. Photo: Mitsubishi Vietnam

In addition, looking at the group of 20 best-selling car models in 2022, the segment from 500-700 million VND has Kia K3 (11th place), Mazda3 (15th place), and Kia Sonet (17th place).

The above results show that, in fact, in recent years, 500-700 million VND is considered the "golden" price range for sales in the Vietnamese automobile market, with a series of car manufacturers focusing on upgrading and launching new products.

Besides, one of the reasons why car lines priced at 500 million - 700 million VND are trusted by consumers is because low-cost A-class cars - which have a high position in the market - have lost their appeal when a series of famous names withdrew from the market.

The most notable of these is the withdrawal of VinFast Fadil. At its peak, in mid-July 2022, VinFast officially announced that it would stop selling gasoline-powered cars, after the last batch of Lux and Fadil cars had been sold out. This also led to a dramatic drop in sales of A-class small cars in 2022.