Many people interested in luxury cars were surprised to discover that the Lexus IS sedan model was no longer available on the official website of Lexus Vietnam. Information from the dealer said that the Japanese luxury car company had stopped distributing this model.
In fact, D-size sedans priced at VND1 billion or more are gradually being "ignored". This is reflected in the sales of the D-size sedan segment in the first half of 2024. According to the sales report of the Vietnam Automobile Manufacturers Association (VAMA), a total of 1,077 D-size sedans were sold in the first 6 months of 2024, down 56.9% compared to sales in the first half of 2023 and down 71.9% compared to the reporting period of 2022.
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| Sedans priced over 1 billion VND are seeing declining sales in Vietnam. |
According to the collected data, the downward trend is strong in most car models, except for Honda Accord. In particular, Toyota Camry continues to hold the top position with 660 cars delivered to customers, down 52.6% compared to the result of 1,394 cars in the first 6 months of 2023. Although the number of cars sold is less than 700 in 6 months, Camry still holds up to 61.3% of the segment market share.
Notably, during the most popular period (2015-2016), sales of large sedan models used to reach thousands of units, but now there are only a few hundred units, and they are constantly among the slowest-selling cars on the market.
The trend of buying high-chassis cars also affects the small sedan segment. According to statistics, Vietnamese people bought 16,176 sedans in the first 6 months of 2024, down nearly 30% compared to the same period last year. Except for the two models Hyundai Accent and Toyota Vios favored by customers, with 4,988 and 4,215 units respectively, the number of other products decreased.
In addition to going through a difficult economic period, customers' budgets are limited, and current consumer tastes are oriented towards SUVs, CUVs, and MPVs with strong, practical designs. This has caused the number of cars sold in the D-segment sedan segment in particular, and low-chassis cars in general, to gradually shrink. This scenario is predicted to continue in the remaining period of the year.
Typically, the best-selling car model in the first half of 2024 in the Vietnamese market is Mitsubishi Xpander with 7,773 units. This car model has an affordable listed price, starting from only 560 million VND, suitable for urban travel and carrying many people.
Meanwhile, at a price range of over 1 billion VND, users are tending to own the Ford Everest SUV model with sales of 4,442 units, ranking 5th on the best-selling car rankings in the first half of 2024.
Source: https://congthuong.vn/ly-do-xe-sedan-cho-nguoi-giau-dang-danh-mat-vi-the-o-viet-nam-333624.html
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