09:55, 09/05/2023
The appearance of VinFast VF5 and Toyota Wigo imported from Indonesia is waiting for the return, causing the Korean car duo – Hyundai Grand i10, Kia Morning to lose their unique position, the market share of the cheapest car segment in Vietnam is at risk. subdivided.
After a quiet period, many models left the race to compete with sales decline… the cheapest car segment in Vietnam is gradually returning to excitement with the presence of a series of new models, including umbrellas. electric bowl.
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| For many months now, the cheapest car segment in Vietnam has only Kia Morning and Hyundai Grand i10 left |
From the fourth quarter of last year, after Toyota Wigo and Honda Brio respectively halted distribution, VinFast Fadil also stopped the race when the Vietnamese car company switched production and business of electric cars… The small car segment priced below 4 million dong has once again become the exclusive domain of Korean cars with the Hyundai Grand i500 and Kia Morning duo assembled and distributed by TC Motor and THACO AUTO.
The fact that there are only 2 options left and the buying power of cars in the market continuously declines, causing the segment of the cheapest small car in Vietnam to continuously "plunge" in sales. Data from the Vietnam Automobile Manufacturers Association (VAMA) as well as TC Motor show that by the end of the first quarter of 1, the total sales of the cheapest small car in Vietnam reached only 2023 vehicles, down nearly 2.724 % compared with the same period last year. This is also the quietest segment and has the largest sales decline in the Vietnamese auto market.
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| VinFast suddenly launched a small electric car model VinFast VF5 |
However, this situation may end in the coming months when this segment has been witnessing the appearance of a series of new models, including electric cars. Specifically, at the end of April 4.2023, VinFast suddenly launched a small electric car model VinFast VF5 to the market. This pure electric car model has a price of only 458 million VND without battery, which is considered the cheapest electric car of VinFast, and is also a replacement for VinFast Fadil in the segment of small-sized cars. At present, the first batches of VF5 cars have been delivered by VinFast to customers ordering in Vietnam.
Previously, the world's best-selling electric car model in recent years - Wuling HongGuang MiniEV was also announced to be assembled and distributed by the joint venture GM - SAIC - WULING and its partner in Vietnam. Specifically, Wuling HongGuang MiniEV will be assembled at TMT's car factory in Van Lam district, Hung Yen province, with a capacity of 30.000 vehicles per year and can be increased in the future.
The appearance of Wuling HongGuang MiniEV is forecasted not only to stir up the low-cost car segment in Vietnam but also to form a new trend in the Vietnamese car shopping style. In China, the Wuling HongGuang MiniEV is priced from only 114 to 155 million VND. Meanwhile, in other markets in Southeast Asia, the Wuling HongGuang MiniEV costs less than 200 million VND. This is considered a significant advantage that helps this model to attract car consumers in Vietnam.
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| The world's best-selling electric car in recent years – Wuling HongGuang MiniEV has also announced assembly and distribution information in Vietnam. |
Along with the electric car duo VinFast VF5 and Wuling HongGuang MiniEV, the low-cost car segment in Vietnam will have the return of Toyota Wigo. This model used to enter the Vietnamese market in 2028, but from mid-2022, Wigo had to suspend distribution because it could not meet the new emission standards in Vietnam in time.
After nearly a year of absence, Toyota's cheapest small car model has now been improved, upgraded and scheduled to return to the Vietnamese market by the Japanese automaker. According to the announcement of Toyota Vietnam (TMV), on May 1, TMV will launch the new generation Toyota Wigo to the market, thereby officially returning to the sales race of the A-class small car segment.
Entering a new generation, Wigo is built on the basis of Daihatsu's new global platform DNGA, which not only changes in design but also adds technology and features. This model is likely to use a 3-cylinder petrol engine, 1.2 liter capacity.
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| Toyota Wigo aka Agya in Indonesia is about to return to Vietnam |
Meanwhile, recently, the upgraded version of Honda Brio has just been launched by the Japanese automaker in Indonesia. Similar to Toyota Wigo, Honda Brio has been absent from Vietnam for a long time and will likely be brought back to the race by Honda in the near future.
The appearance of a series of models made the prestige of the Korean car duo - Hyundai Grand i10, Kia Morning broken after only a few months. It is expected that from mid-2023, in addition to two Korean car models, cheap car customers in Vietnam will have no less than 4 options, notably electric cars. The market share will also be divided into "rookies".
According to Thanh Nien
