Venue sales surpass Raize in September, narrowing the gap with competitor

Launched for Vietnamese customers at the end of 2023, Hyundai Venue has slowly found its place as it continues to outsell Toyota Raize in September. According to sales figures released by TC Motor, 482 units of this Korean brand were delivered to customers, a 62% increase compared to August.

Toyota Raize also recorded growth in sales in line with the overall market trend, but only sold more than 16 units compared to August.

Hyundai Venue, assembled domestically in 2 versions, with a suggested retail price of 499-539 million VND (Photo: Nguyễn Lâm).

Experts explain that Toyota Raize continues to lag behind its Korean competitor partly because this model is imported fully assembled, not benefiting from the 50% registration fee support policy like domestically assembled cars. Additionally, Raize did not have any promotional programs applied by the company in September.

On the other hand, Hyundai Venue had a 50% reduction in registration fees under Government Decree 109, and dealers offered additional discounts in September. The level of discounts varied depending on the location, ranging from 10-15 million VND, helping customers save a total of about 35-40 million VND (depending on the version).

Competitor incentives make the 498 million VND price of Toyota Raize no longer a competitive advantage (Photo: TVN).

In August, VinFast VF 5 Plus was the best-selling product in the A-segment crossover with 2,200 units sold. However, there is no information on the sales of this electric car in September, so the top spot went to Kia Sonet with 742 units delivered, a 72% increase.

Kia Sonet is the most expensive product in its segment, starting at 539 million VND and reaching up to 624 million VND. Even the highest price of this Korean model is more expensive than the base model of a B-segment crossover like the Mitsubishi Xforce GLX (599 million VND).

Nevertheless, Sonet is still preferred by Vietnamese customers over Venue and Raize due to its sporty design and substantial stature providing a spacious feeling. The car has some standout features after a mid-life upgrade, such as a 10.25-inch entertainment screen and sunroof on the top variant, wireless Apple CarPlay/Android Auto connectivity, and standard leather seats.

Sales figures for the A-segment crossover in September 2024 (Photo: Nguyễn Lâm).