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16 Jan 2021
Not booming in revenues like other brands, the sales results of Toyota Vietnam in 2020 suffered a slight declined compared to last year.
Closing a volatile 2020 with the effects of the Covid-19 pandemic, the bright highlight of Vietnamese auto market in the second half of 2020 is the government’s support of 50% reduction in registration fee for domestically produced and assembled cars. Therefore, although the Vietnamese car market had many difficulties in the early months of 2020, it can be imagined that the boom was closer to the end of the year.
However, not all car manufacturers recorded a growth compared to 2019, for example, Toyota Vietnam. According to the manufacturer’s report on sales results, in 2020 Toyota Vietnam sold a total of 72,136 cars (including Lexus), a decrease of more than 8,000 cars compared to 2019, cumulative up to 695,424 cars.
This result makes Toyota Vietnam no longer overwhelms TC Motor in terms of passenger car consumption in 2020. Specifically, according to the report of TC Motor in 2020, there were a total of 73,199 Hyundai passenger cars sold to the market (81,368 vehicles if commercial cars were included). This contrasts with 2019 because if only passenger cars are counted, Toyota Vietnam still surpassed TC Motor by nearly 10,000 cars.
In more detail about the results of Toyota Vietnam in 2020, the volume of domestically assembled cars of the Japanese automaker had a total of 43,243 units, bringing the cumulative output up to 574,092 units. In particular, the best-selling product in 2020 of Toyota Vietnam continues to be the Toyota Vios with the consumption of up to 30,251 vehicles, a sharp increase compared to last year and leading the whole market. The 2020 sales results of Toyota Vios even outstripped the second-place model, the Hyundai Accent, to 10,000 units.
The second best-selling model of Toyota Vietnam in 2020 is Toyota Fortuner with 8,512 cars, cumulative up to 102,575 units. Next is the “hot” Toyota Corolla Cross with sales of 5,916 vehicles. This is a new product brought to Vietnam by Toyota in recent years, but it still achieved such impressive results within 4 months from the launched time.
About Toyota Innova, the explosion of the low-cost MPV segment caused the “national” 7-seater car to continuously go down in 2020. According to Toyota Vietnam statistics, in 2020 this MPV model could only sell 5,423 cars, a cumulative amount of 142,759 units and remains the second best-selling car model ever sold by Toyota Vietnam.
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