As per reports from Vietnamese media dated April 22nd, a transportation service firm situated in Phu Yen Province, Vietnam, has opted to integrate the Wuling Hongguang Mini EV into its taxi fleet. Its unconventional design has stirred considerable interest and discussion.
Despite garnering substantial attention, the Wuling Hongguang Mini EV has fallen short of sales projections. According to disclosures within the operational report presented by TMT Motors, the Vietnamese distributor of Wuling Motors, during its annual shareholders' meeting, by the close of 2023, a mere 591 units of the Mini EV had been sold. Despite setting an initial sales target of 5,525 units for this model, equivalent to nearly 1,000 units on average per month, actual sales have plateaued at around 100 units monthly, achieving only approximately 10% of the overall target.
Despite its entry-level price point of slightly over 200 million VND (equivalent to over 60,000 yuan), positioning it competitively against A-class models such as the Hyundai Grand i10 or Kia Morning, Vietnamese consumers remain unconvinced due to its compact dimensions and limited interior space. Furthermore, the Mini EV's restricted driving range, coupled with the absence of a comprehensive charging infrastructure and modest power output, has contributed to its tepid reception. Presently, Wuling's Vietnamese dealerships have yet to establish public charging stations or rapid-charging systems, exacerbating charging inconveniences for users, particularly during emergencies.
Vietnamese car buyers' criteria have notably evolved in recent years, extending beyond mere 'rainproof and sunproof' considerations. They now demand superior quality, performance, and safety features, compelling automakers to continually innovate to meet these evolving market expectations.
Additionally, the Hongguang Mini EV confronts the formidable challenge of inadequate charging infrastructure within the Vietnamese market. For automotive companies eyeing entry into Vietnam, establishing a robust charging network and offering convenient charging solutions are imperative to ensure widespread consumer acceptance of electric vehicles.