The number one selling company in the early 2021 market was Hyundai, while Kia had for the first time since 2014, overtaking Toyota for second place.
Korean cars continue to dominate the Vietnamese auto market when considering each brand individually. Hyundai and Kia are the leading names in the first two months of 2021.
Hyundai (distributed by TC Motor) emerged from 2019, competing fiercely with Toyota and surpassed it in sales in 2020. Meanwhile, Kia had for the first time since 2014 (starting to announce sales) sold more cars than Toyota brand, both in a month and cumulatively.
Ranked above Toyota in January and February, but Kia’s sales volume is only slightly higher than the Japanese brand’s 49 cars and 77 cars, respectively. However, if comparing Toyota’s sales often several times higher than Kia in previous years, this time Korean brand’s results reflect some changes in the market situation.
Big brand, wide product range, famous for practicality and optimal ways to reach popular customers, Toyota has always been number one for many years. But now, Japanese brands are facing more challenges. Market share has declined, key models have gradually lost their overwhelming pressure, many products have not had a new generation and more importantly, competitors are gradually getting stronger.
The best-selling Hyundai and Kia in the market also showed a positive reception from the Vietnamese for Korean cars. Vietnam is currently the “gold mine” of two Korean brands, making the biggest contribution to consumption compared to other countries in the region. In the leading markets in the region such as Thailand, Indonesia, Malaysia, both Korean car identification and sales are much lower than Japanese cars (including individual brands).
However, since the first two months of the year fall on Tet and the low season after Tet, companies plan to deliver vehicles are not the same, so this number is not a clear indication of market rearrangement. Experts say that, in the coming months, Toyota will gradually regain its image as in previous years. The company still has two bright spots: Vios, Corolla Cross.
Meanwhile, the Vietnamese car company VinFast has only 3 products, including Fadil, Lux A2.0 and SA2.0, but ranks 5th in sales, behind Hyundai, Kia, Toyota and Mitsubishi. Under the Vietnamese brand name are longtime car manufacturers such as Honda, Mazda, Ford, Suzuki, Isuzu.