Toyota dominates compact CUV segment in Q1

By Pham Trung   April 18, 2023 | 10:20 pm PT
Toyota dominates compact CUV segment in Q1
A Corolla Cross on a Hanoi street. Photo by VnExpress/Minh Quan
Toyota’s Raize and Corolla Cross now account for 40% of the compact CUV segment, with the rest divided between Kia, Mazda, Honda, and Hyundai.

In the last two years the competition in the urban compact CUV segment has been hot, persuading car companies to bring in new products.

The race in this segment is mainly between Toyota, Hyundai and Kia.

The compact CUVs have contributed greatly to Toyota’s top position in terms of revenues.

So far this year Toyota has sold a combined 5,100 Corolla Cross and Raize cars. Both models are imported. The former in particular is a global product with all kinds of bells and whistles and new technologies.

Like the Mitsubishi Xpander in 2019, the Corolla Cross has become a phenomenon in the Vietnamese car market, zooming to the top of its segment within just half a year after entering the market in May 2020, and remaining there.

Kia has two models in this segment, Sonet and Seltos. The Sonet has sold 2,006 units this year, representing 22% year-on-year growth, while the Seltos sold 1,481, down 63%. Together they hold a 27% market share.

The Seltos’ decline was mainly because of the Creta, of which Hyundai sold 2,647 in Q1.

Kia and Hyundai are sister companies, with the latter owning a one-third stake in Kia.

Mazda CX-3, Honda HR-V, Nissan Kicks, Volkswagen T-Cross, MG ZS, and Peugeot 2008 account for the rest of the segment. While the first two sold fewer than 1,000 cars in Q1, the rest did not publish sales figures.

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