Gasoline cars plummet, electric cars lead the market

While competitors in the A-segment are increasingly struggling in the sales race, the VinFast VF 5 Plus has recorded record sales. Furthermore, the appeal of the VF 3 minicar is also considered a reason why gasoline-powered A-segment cars are increasingly being rejected by consumers.

Contrasting sales figures in the A-segment: Gasoline cars plummet dramatically, while electric vehicles lead the market.

While competitors in the A-segment are increasingly struggling in the sales race, the VinFast VF 5 Plus has recorded record sales. Furthermore, the appeal of the VF 3 minicar is also considered a reason why gasoline-powered A-segment cars are increasingly being rejected by consumers.

Electric vehicles are losing market share to small gasoline-powered cars.

The 2024 automotive market picture shows contrasting trends in the A-segment. Considering only gasoline-powered cars, according to reports from VAMA and Hyundai Thanh Cong, the total sales for the three A-segment hatchback models currently sold in Vietnam – Hyundai Grand i10, Toyota Wigo 2,659, and Kia Morning 771 – in 2024 represent a decrease of 4-47% compared to the same period last year.

In contrast to the aforementioned setbacks, A-segment SUVs, especially the VinFast VF 5 Plus, achieved impressive sales figures. In 2024, the VinFast VF 5 Plus even became the market leader with 32,000 units sold. In December 2024 alone, VinFast delivered 4,900 vehicles, nearly equaling the annual sales of the Hyundai Grand i10. Besides the VF 5 Plus, the Vietnamese electric vehicle manufacturer also achieved impressive results with other models, bringing the total number of vehicles delivered in 2024 to over 87,000.

Observers believe that the strong shift from gasoline to electric vehicles in the overall market is also the reason why A-hatchback models – once very popular in Vietnam – are increasingly declining. Besides the VF 5 Plus dominating the segment, another small electric car from VinFast, the VF 3, also recorded sales of 25,000 units, despite only being delivered in the last five months of the year.

“Small cars are still popular in Vietnam, but the VF 5 Plus and VF 3 have almost completely taken over the market share of gasoline-powered models. And the trend of electric vehicles will increasingly prevail in 2025,” predicts Mr. Nguyen Thanh Long, a long-time automotive market observer.

The combination of good quality, good price, and low running costs has allowed electric vehicles to dominate the market.

Explaining the reasons for VinFast's success with the VF 5 Plus and VF 3, Mr. Long said that both models possess all the attractive features that are "irresistible" to all customers.

First, both models boast distinctive designs. The VF 5 Plus is highly regarded by many users for its youthful and fashionable look, while the VF 3 is more individualistic and easily stands out on the road. Notably, despite their affordable price range, both models allow customers to freely choose their exterior color at a reasonable cost. This is a service usually only found on expensive luxury cars.

For customers looking to optimize vehicle costs, such as families and those in the transportation business, the VF 5 Plus is a top choice. Due to the exemption from registration fees, the VF 5 Plus has an on-the-road price equivalent to the listed price (starting from only 480 million VND), saving buyers tens of millions of VND compared to traditional gasoline cars. Notably, compared to its competitors, the VinFast electric vehicle boasts superior features, from a range of ADAS driver assistance features with door opening sensors and blind spot warning to 6 airbags, comparable to even B-segment cars…

With the VF 3, the cost of ownership is even more affordable, only half that of many A-segment gasoline cars on the market. Meanwhile, users still get modern features and amenities such as a 10-inch touchscreen infotainment system, a Vietnamese-language virtual assistant, remote vehicle location tracking and vehicle status monitoring via the VinFast app, reverse parking sensors, etc. Therefore, the VF 3 is suitable for young customers, first-time car buyers, or families who already own a large car and want a second vehicle for city driving.

Furthermore, thanks to the free battery charging policy until June 2027, users who purchase the VF 3 or VF 5 Plus with a battery can enjoy the benefit of "zero fuel" for 2.5 years.

Regarding maintenance costs, while gasoline cars require inspection and replacement of certain parts every 5,000 km, VinFast owners only need their first maintenance service after 12,000 km. According to many users, the cost of the first maintenance service for the VF 5 Plus is only a few hundred thousand dong, only half the cost of gasoline models.

With a host of outstanding advantages, according to Mr. Long, it's not surprising that both the VF 3 and VF 5 are the top choices for consumers looking for small urban cars. The decline of gasoline-powered competitors is predicted to continue as VinFast's two SUV models increasingly demonstrate their top market position.

Source: https://baodautu.vn/batdongsan/tinh-canh-doanh-so-trai-nguoc-trong-phan-khuc-a-xe-xang-tut-doc-the-tham-xe-dien-dan-dau-thi-truong-d241269.html