The second best-selling car model in the entire industry, the VinFast VF 5, faces no real competition in terms of sales within the A+ segment of small SUVs. The VF 5 has essentially carved its own niche with its all-electric configuration and outstanding sales figures, dwarfing those of its gasoline-powered competitors.
In August, the VF 5 sold 2,745 units, a figure exceeding the total 8-month sales of the Toyota Raize or Hyundai Venue. Even top-selling models in their respective segments like the Mitsubishi Xpander, Ford Ranger, and Mazda CX-5 don't enjoy the same significant sales dominance as the VF 5.
The VF 5's dominance within the A+ segment CUV market is striking. Year-to-date, VinFast's all-electric model has sold over 27,000 units, more than 4 times the combined sales of the Raize, Venue, and Kia Sonet (6,700 units).
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A VinFast VF 5 used for commercial services on the streets of Saigon. Photo: Pham Trung |
A VinFast VF 5 used for commercial services on the streets of Saigon. Photo: Pham Trung
Compared to the same period in 2024, all three gasoline-powered models saw declining sales. The Kia Sonet dropped by 26%, the Toyota Raize by 15%, and the Hyundai Venue experienced the steepest decline at 41%. The demand for gasoline cars in this segment has decreased by about 26% over the past 8 months.
Industry experts attribute this substantial sales gap to the differing needs met by these two vehicle groups. The VF 5 is popular among individual customers and businesses providing commercial services due to its practical design and low operating costs. While the VF 5's base price falls mid-range within the segment, its overall cost is the lowest thanks to exemptions from electric vehicle registration fees.
Models like the Raize, Sonet, and Venue primarily cater to the daily commuting needs of individual consumers. The arrival of affordable electric vehicles like the VF 5 further diminishes the appeal of this gasoline-powered trio.
Currently, only the Raize is imported from Indonesia, while other models in the segment are manufactured or assembled domestically. In October, a new contender, the Suzuki Fronx, will enter the market. Like the Raize, it will be imported from Indonesia and offered in gasoline and mild-hybrid configurations.
Pham Trung
