Buzz
By the end of January 2023, the total car consumption in Vietnam experienced a significant decline with only 17,314 units sold, down by 51% monthly and 44% annually. Representatives from various brands attribute the main reason for this sales slump in the first month of the new year to the extended Lunar New Year holiday, leading to a sharp decrease in purchasing power.
In line with the overall trend of the entire market, the sales of the mid-size CUV segment in January 2023 also witnessed a sharp decline across all member models. Among them, the newcomer Ford Territory continues to demonstrate its youthful spirit by leading the group in successful bookings. Established models such as Mazda CX-5, Honda CR-V, and Hyundai Tucson all have to reluctantly accept trailing behind.
Mid-size CUV Segment January 2023: Ford Territory continues to showcase its youthfulness
Specifically, a total of 504 Ford Territory units were delivered to customers in the first month of 2023. Although this result decreased by 50% compared to the consumption of 1,002 units in December 2023, it still suffices to help the newcomer establish a distinct presence among many well-established names and lead the group.
Advantages in pricing and eye-catching design, coupled with modern convenience features, are the key factors contributing to the strong appeal of Ford Territory in the Vietnamese market. This also positions Ford Vietnam prominently in the top 10 best-selling cars of the month.
Mazda CX-5 lost its throne in the opening month of 2023
Following a dazzling success in 2022 with impressive year-on-year growth in sales, Mazda CX-5 faced a somewhat challenging start in the Year of the Cat as the number of units leaving dealerships reached only 416. This figure represents a drop of nearly 300 units compared to the previous month and continues to place the model behind the newcomer Ford Territory. However, Mazda CX-5 sales still maintain a relatively high market share compared to its segment rivals (23%).
The next position belongs to the Honda CR-V with 348 units sold, marking a significant decrease of 680 units compared to the previous month. Despite this decline, Honda's warrior still prevails over its Korean rival, the Hyundai Tucson, which only sold 225 units in the month.
Honda CR-V records the sharpest decline in the mid-size CUV segment in January 2023.
Following closely is the KIA Sportage with 216 units registered nationwide. This figure reflects a decrease of 433 units compared to December 2022. The final spot on the list remains with the familiar name, Mitsubishi Outlander, with 102 units leaving the dealership in January 2023, down by 307 units from the previous month.
Predictions suggest a significant surge in the mid-size CUV segment in Vietnam for the upcoming month of 2023, as people return to their normal routines after a 10-day break. Alongside this, there may be reshuffling in the group rankings as manufacturers and dealerships offer compelling incentives, such as 100% registration fee waivers, direct price reductions of tens of millions of dong, and valuable gifts, to stimulate demand.
Data Source: VAMA, TC Motor
Image Source: Oto.com.vn Classifieds
Posted by: Hoàng Hữu Mạnh
Keyword: Mid-size CUV Segment January 2023: Ford Territory Continues to Showcase Youthfulness
