Vietnamese electric automaker VinFast’s VF 5 sales surpassed 27,000 units in the first eight months, four times that of the total of three gasoline-powered competitors in the same segment.
The VF 5 dominated the A+ crossover utility vehicle segment in the period, while Kia Sonet, Toyota Raize and Hyundai Venue all saw double-digit decline in sales. A+ refers to low-cost city cars.
In total, sales of the three gasoline models reached 6,700 units, with Sonet falling 26% year-on-year, Raize declining 15%, and Venue plunging 41%.
Overall demand for gasoline vehicles in this segment over the past eight months decreased by about 26%.
In August alone more than 2,700 VF 5 units were sold, exceeding the eight-month sales of the Raize and the Venue.
The VF 5 has gained broad popularity among individual buyers as well as service operators, thanks to its practical design and low operating costs.
Its selling price is in the middle range of the segment, but is still considered low thanks to supportive government policies such as the waiver of registration fees for electric cars.
At present, the Raize is the only model in the segment imported from Indonesia, while others are assembled locally.
In October, a new entrant – the Suzuki Fronx – will join the market. Also imported from Indonesia, the model will be offered with either a gasoline or a mild-hybrid engine, which uses a small electric motor and a battery to assist a traditional internal combustion engine.
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