Vietnamese consumers show an increasing preference for SUVs, CUVs, and MPVs over sedans due to their practicality, as observed on popular Vietnamese car listing websites.
During the first two months of 2023, a shift in Vietnamese car buyers' habits has occurred. Instead of purchasing sedans, which have been the most popular car type for many years, they are now opting for five to seven-seater vehicles. This has led to a surge in demand for SUVs, CUVs, and MPVs.
In the previous year, B, C, and D segment vehicles were the top sellers in the Vietnamese market, with sales totaling nearly 91,000 units. In comparison, SUV sales reached approximately 86,000 units, CUV sales accounted for 34,600 units, and MPV sales stood at 55,300 vehicles.
However, over the past two months, the B-segment sedan has been dethroned as the best-selling segment in Viet Nam. Instead, most Vietnamese buyers are now leaning towards urban SUVs, CUVs, and MPVs.
The survey revealed a growing demand for SUVs in the first two months of 2023, with the highest sales at 7,197 units. B-segment sedans came in second place with 6,835 units, followed by CUVs at 6,308 units, 7-seater MPVs with 5,882 units, and pick-up trucks with 2,693 units. D-segment sedans had the lowest sales, with only 827 units.
This decline in sedan sales is attributed to consumers' rapidly changing preferences. The SUV segment, including mid-size crossovers and MPVs, has been growing at a faster rate than the sedan segment.
Over the past two years, car manufacturers have not produced new B, C, or D segment sedans. Some models have been discontinued, while others have exited the market. In contrast, the auto market has continually introduced new SUV models, such as the Kia Sonet, Mazda CX-30, Hyundai Creta, and Nissan Kicks, among others.
Urban SUVs, mid-size crossovers, and MPVs are becoming the preferred choice for local consumers in terms of options and utility. These vehicles offer more interior space and cargo capacity compared to typical sedans, making them more comfortable and convenient for users.
After dominating the Vietnamese auto market for years, 2023 could mark the beginning of the sedan segment's decline. Meanwhile, the production of SUVs, mid-size crossovers, and MPVs continues to grow rapidly, aligning with the evolving tastes of Vietnamese consumers. — VNS